Pervez Kahn Of Kahn Capital Group Acquires Mixed-Use Property In Bethpage For $2.1M

The property asset involved in this transaction is a mixed-use development located at 10-12 Railroad Avenue in Bethpage, comprising one commercial unit and nine residential units. The sale concluded at a transaction amount of $2,100,000, with a total of 10 units available. The property encompasses a total square footage of 6,137, resulting in a price per unit of $210,000 and a price per square foot of $342.

Summary of transaction details:

• Property Type: Mixed-use (1 Commercial & 9 Residential)
• Transaction Amount: $2,100,000
• Units: 10
• Price Per Unit: $210,000
• Square Footage: 6,137
• Price Per Square Foot: $342
• Buyer: Pervez Kahn - Kahn Capital Group
• Seller: Conte Family
• Seller's Representative: Tom Bigansky - North Village Realty
• Cap Rate: 6%
• Capital Improvements Required: Yes

Key individuals in this transaction include Pervez Kahn, representing Kahn Capital Group as the buyer, and the seller, Conte Family, with Tom Bigansky of North Village Realty acting as the seller’s representative. The deal closed with the note indicating the need for capital improvements, alongside a low cap rate of 6%.