Hal Zwick, Jeffrey Sztorc & Sean Deery Of Compass Sell Retail Asset In Sag Harbor For $30M
22 Long Island Avenue
$30,000,000
$1,005/SF
Building Size
29,850 SF
Asset Type
Retail
Closing
Feb 11, 2025
AI
The property asset involved in this transaction is a retail space located at 22 Long Island Avenue & 2 Main Street in Sag Harbor. The transaction was completed with a sale price of $30,000,000, covering a total square footage of 29,850, which translates to a price per square foot of $1,005.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $30,000,000
- Square Footage: 29,850
- Price per Square Foot: $1,005
- Address: 22 Long Island Avenue & 2 Main Street
- Market: Sag Harbor
The deal was facilitated by brokers Hal Zwick, Jeffrey Sztorc, and Sean Deery, representing Compass. They played a crucial role in the transaction, ensuring all aspects were handled efficiently throughout the process.
Players
Sag Harbor Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93