A. Verrelli And Associates Acquires Colonial Plaza Associates For $9M In Binghamton
37 Pennsylvania Ave, Binghamton, NY...
$9,000,000
$652/SF
Building Size
13,804 SF
Asset Type
—
Closing
Nov 19, 2023
About this deal
AI
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.
On the Map
$9,000,000
$652/SF
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Players
Binghamton CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.76%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93