Karim A. Mozawalla Acquires Retail Condo In Syosset For $2.9M
424 Jericho Turnpike #428, Syosset, NY 11791, USA
$2,900,000
$41/SF
Building Size
70,200 SF
Asset Type
—
Closing
Jun 6, 2019
AI
A retail condo located at 424-428 Jericho Turnpike in Syosset, Nassau County, was recently sold in a closed transaction. The property spans 7,020 square feet and was listed with an asking price of $3,250,000. The sale price for the retail condo was $2,900,000, resulting in a price per square foot of $413.
Summary of transaction details
- Property Type: Retail Condo
- Transaction Amount: $2,900,000
- Address: 424-428 Jericho Turnpike, Syosset, Nassau County
- Market: Syosset, Nassau County
- Square Footage: 7,020
- Sale Price per Square Foot: $413
The seller of the retail condo is The Berardino Family, while the buyer is Karim A. Mozawalla. Representing the seller in the deal is Cushman & Wakefield, with Daniel A. Abbondandolo and Melissa Naeder as the seller's representatives. On the buyer's side, RKF is the chosen agency, with Raj Whadua representing Karim A. Mozawalla.
Players
Syosset 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
5.47%
Cash-on-Cash
-1.56%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93