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Russell Nova Ethan Karavani Igor Zakh Oscar Carmella Donald Trump Acquire Flagstar Plaza In Bayville For $4.3M

Property Image
SOLD
$4,300,000

New Jersey

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Retail24,000 SF
Sold 11/05/2024
the dealdetailscomps
Property Image
SOLD

Russell Nova Ethan Karavani Igor Zakh Oscar Carmella Donald Trump Acquire Flagstar Plaza In Bayville For $4.3M

340 US Route 9

See Similar Deals
Retail24,000 SF
Sold 11/05/2024
the dealdetailscomps

Summary

NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$179
Total Square Footage:24,000 SF
Transaction Type:Sale

The property involved in this transaction is a retail asset located at 340 US Route 9 in Bayville. It was sold for a price of $4,300,000. The asset comprises 24,000 square feet and has a price per square foot of $179. The property features 12 retail units, with Flagstar Bank acting as the anchor tenant. The current ownership has maintained the property for over 20 years.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $4,300,000
  • Square Footage: 24,000
  • Price per Square Foot: $179
  • Address: 340 US Route 9, Bayville
  • Buyer: Russell Nova, Ethan Karavani, Igor Zakh, Oscar, Carmella, Donald Trump, Centerstone Property Group
  • Previous Ownership Duration: 20+ years
  • Anchor Tenant: Flagstar Bank

The deal saw the involvement of Igor Zakh from Cornerstone Capital of NY, who secured and arranged financing for the transaction. His work with the lender played a key role in obtaining favorable rates and terms amid current market conditions. Additionally, the team at Centerstone Property Group is planning significant exterior renovations to enhance the property and its tenant offerings.

Details

SOLD
IMAGE: Ethan Karavani, Igor Zakh, Oscar, Russell Nova, Carmella & Donald Trump DATE: 11/05/2024 ADDRESS: 340 US Route 9 MARKET: Bayville ASSET TYPE: Retail BUYER: Russell Nova (@RussellNova), Ethan Karavani (@EthanKaravani), Igor Zakh (@Igor_Zakh), Oscar, Carmella, Donald Trump, Centerstone Property Group (@CenterstonePropertyGroup) SALE PRICE: $4,300,000 SF: 24,000 ~ PPSF: $179 NOTE: @Centerstoneproperty purchased this property located on RT 9 In Bayville NJ, called Flagstar Plaza. The property has 12 Retail Units with Flagstar Bank being the Anchor Tenant. @CenterstonePropertyGroup saw lots of potential with this asset as it's located on the main corridor and very much in need of a Facelift and exterior renovations. Long term committed tenants in this center. The current property has been owned by the same ownership for the last 20+ years. We plan on Brining the VALUE ADD NEEDED to the Tenants and enhancing their business with our Exterior Renovation plan and experienced operations Financing was secured and arranged by @Igor_Zakh at @CornerstoneCapitalofNY. They worked directly with the lender to ensure we receive the best possible rates and terms during these volatile market conditions. If you are looking to Invest passively into Shopping Centers, reach out to our Team at Centerstone Property Group. We currently have NEW OPPORTUNITIES in the pipeline Two things happened on Nov 5th, this Shopping Center was purchased and a NEW President was elected. Scroll right to see the Façade Renovation we have planned for this property Russell Nova, Principal [email protected] 917-559-1820 - Cell Ethan Karavani, Principal [email protected] 201-815-3809 Igor Zakh, Operating Officer [email protected] The Cornerstone Group of NY - Capital Financing www.CSG-NY.com

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