A. Verrelli And Associates Acquires Colonial Plaza Associates For $9M In Binghamton
SOLD
$9,000,000
New York
See Similar Deals13,804 SF
SOLD
A. Verrelli And Associates Acquires Colonial Plaza Associates For $9M In Binghamton
37 Pennsylvania Ave, Binghamton, NY...
See Similar Deals13,804 SF
Summary
NEW YORK
Price Per Square Foot:$652
Total Square Footage:13,804 SF
Transaction Type:Sale
The property located at 37 Pennsylvania Ave, Binghamton, NY, has a total square footage of 13,804. The transaction was concluded at a price of $9,000,000.00, positioning it within the Binghamton market.
Summary of transaction details:
- Property Type: Sale
- Transaction Amount: $9,000,000.00
- Address: 37 Pennsylvania Ave, Binghamton, NY
- Market: Binghamton
- Seller: Colonial Plaza Associates
- Buyer: A. Verrelli and Associates
- Seller's Representative: Bret Verderber (Silber Investment Properties)
Bret Verderber represented Silber Investment Properties in the capacity of seller's representative for Colonial Plaza Associates. The buyer in this transaction was A. Verrelli and Associates, marking a significant deal in the local real estate landscape.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$480,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$31,975.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$42,664.59
Annual Debt Service$511,975.10
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