Jed Bonnem Acquires Package Deal In Long Island With Buyer's Rep Kenneth Hochhauser & Evans Cyprus
177 Atlantic Avenue, 870 Atlantic Avenue, 2020 Jericho Turnpike, 2805 North Jerusalem Road, 144 Franklin Avenue, 1600 Broadway, 241 Hempstead Avenue, 2735 Oceanside Road, 94 Forest Avenue & 1230 Grand Avenue
$9,015,000
$186/SF
Building Size
48,290 SF
Asset Type
Package Deal
Closing
Aug 29, 2024
AI
A package deal transaction involving multiple properties took place, encompassing addresses such as 177 Atlantic Avenue, 870 Atlantic Avenue, 2020 Jericho Turnpike, 2805 North Jerusalem Road, 144 Franklin Avenue, 1600 Broadway, 241 Hempstead Avenue, 2735 Oceanside Road, 94 Forest Avenue, and 1230 Grand Avenue. The total square footage of the properties is 4,829 and the market includes Freeport, Baldwin, Long Island, East Meadow, Franklin Square, Hewlett, Lynbrook, Oceanside, and Glen Cove.
Summary of transaction details:
- Property Type: Package Deal
- Transaction Amount: Not specified
- Addresses: 177 Atlantic Avenue, 870 Atlantic Avenue, 2020 Jericho Turnpike, 2805 North Jerusalem Road, 144 Franklin Avenue, 1600 Broadway, 241 Hempstead Avenue, 2735 Oceanside Road, 94 Forest Avenue, 1230 Grand Avenue
- Market: Freeport, Baldwin, Long Island, East Meadow, Franklin Square, Hewlett, Lynbrook, Oceanside, Glen Cove
- Total Square Footage: 4,829
- Buyer: Jed Bonnem
- Buyer's Representative: Kenneth Hochhauser & Evans Cyprus - Winick Realty Group
Jed Bonnem represented the buyer in this transaction, with Kenneth Hochhauser & Evans Cyprus from the Winick Realty Group acting as the buyer's representative. The involvement of these parties highlights their roles in facilitating the deal within the described properties and market locations.
Players
Freeport Package Deal Market Snapshot
Boundary boundary · Package Deal · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.76%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93