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
About this deal
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.
On the Map
$2,900,000
$41/SF
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Players
Syosset CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Deal FAQ
About $41 per square foot on a published $2.9M for 70,200 square feet (2019).
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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