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Lux Bond & Green Acquires Retail Property At 49-53 Main Street Mystic For $2.95M
SOLD
$2,950,000
Retail
Sold 01/17/2025
SOLD
Lux Bond & Green Acquires Retail Property At 49-53 Main Street Mystic For $2.95M
Main St
See Similar DealsRetail
Sold 01/17/2025
Summary
IOWA
Asset Type:Retail
Transaction Type:Sale
The property asset involved in the transaction is located at 49-53 Main Street in Mystic, CT. It is classified as a retail asset and was sold for $2,950,000. This acquisition marks the luxury jeweler Lux Bond & Green's expansion into their sixth location, previously housing the Bank Street Book Store.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $2,950,000
- Buyer: Lux Bond & Green
- Buyer's Representative: John Cafasso - Colliers
- Seller's Representative: Judi Carcausa - Sotheby's International Realty
This transaction was facilitated by Colliers, with John J. Cafasso representing Lux Bond & Green. The seller was represented by Judi Carcausa from Sotheby's International Realty. The deal reflects the ongoing growth of the 127-year-old, family-owned luxury jewelry business into the Mystic market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$157,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,480.74
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,984.51
Annual Debt Service$167,814.06
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