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Edwin Gerges Acquires Mixed-Use Property On Mount Vernon Avenue For $1.2M

Property Image
SOLD
$1,200,000

New York

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Mixed-use7,500 SF
Sold 05/31/2024
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Property Image
SOLD

Edwin Gerges Acquires Mixed-Use Property On Mount Vernon Avenue For $1.2M

119 Mount Vernon Avenue

See Similar Deals
Mixed-use7,500 SF
Sold 05/31/2024
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Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$160
Total Square Footage:7,500 SF
Transaction Type:Sale

A mixed-use property located at 119 Mount Vernon Avenue in Mount Vernon was recently sold. The transaction, which took place on 05/31/2024, involved a sale price of $1,200,000 for a building spanning 7,500 square feet, resulting in a price per square foot of $160. The property was acquired by Edwin Gerges from the seller John Fortugno.

Summary of transaction details:

The deal was facilitated by Michael Scrima, Thomas Gorman Jr., and Edward McCarthy of Redwood Realty Advisors, who served as the brokers representing the parties involved in the transaction. These individuals played a crucial role in ensuring a successful sale of the mixed-use property in Mount Vernon.

Players

Michael Scrima
60 deals$214.1M volume
BROKER

Thomas Gorman Jr.
Houlihan Lawrence Commercial
62 deals$240M volume(914) 205-2020
BROKER

Edward McCarthy
Redwood Realty Advisors
8 deals$30.4M volume
BROKER

Details

SOLD
IMAGE: Michael Scrima, Thomas Gorman Jr & Edward McCarthy DATE: 05/31/2024 ADDRESS: 119 Mount Vernon Avenue MARKET: Mount Vernon ASSET TYPE: Mixed-use BUYER: Edwin Gerges SELLER: John Fortugno BROKERS: Michael Scrima, Thomas Gorman Jr. (@ThomasGorman) & Edward McCarthy - Redwood Realty Advisors (@RedwoodRealtyAdvisors) SALE PRICE: $1,200,000 SF: 7,500 ~ PPSF: $160 -use

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

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Cap Rate

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