Updated Dec 4, 2024
Spiros Maragos Acquires Mixed-use Property From David Shorenstein In Montclair For $1.93M
547 Valley Road
$1,930,000
$385/SF
Building Size
5,004 SF
Asset Type
Mixed-use
Closing
Sep 11, 2024
About this deal
AI
The mixed-use property located at 547 Valley Road in the Montclair market has been sold for $1,930,000. The asset encompasses a total of 5,004 square feet, equating to a price per square foot of $385.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $1,930,000
- Address: 547 Valley Road
- Market: Montclair
- Square Footage: 5,004
- Price per Square Foot: $385
- Buyer: Spiors Maragos
- Seller: David Shorenstein
- Brokers: Yanni Marmarou & Griffin Westlin - Investment Property Realty Group (IPRG)
The transaction involved Spiors Maragos as the buyer and David Shorenstein as the seller, with representation provided by brokers Yanni Marmarou and Griffin Westlin from Investment Property Realty Group (IPRG).
On the Map
$1,930,000
$385/SF
Mixed-use
View full map
Players
Montclair Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
Loading comparables…
Deal FAQ
Visit Yanni Marmarou to view all their deals.
Browse Montclair mixed use sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
8.22%
Cash-on-Cash
-2.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93