Manjit Singh Acquires Mixed-Use Property In Bellerose For $880,000
SOLD
$880,000
+ 1
New York
See Similar DealsMixed-use2,800 SF
Sold 06/11/2024
SOLD
Manjit Singh Acquires Mixed-Use Property In Bellerose For $880,000
248-45 Jericho Turnpike
See Similar DealsMixed-use2,800 SF
Sold 06/11/2024
+ 1
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$314
Total Square Footage:2,800 SF
Transaction Type:Sale
The property at 248-45 Jericho Turnpike in Bellerose, a Mixed-use asset, was recently involved in a transaction. The sale price for this property was $880,000, covering a total area of 2,800 square feet at a price per square foot of $314.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $880,000
- Buyer: Manjit Singh
- Seller: Antonio Sferrazza
- Brokers: Kevin Louie, Kevin Schmitz, Andrew LeoGrande & Eric Delafraz - Ripco
Kevin Louie, Kevin Schmitz, Andrew LeoGrande, and Eric Delafraz, representing Ripco, facilitated the deal between the buyer, Manjit Singh, and the seller, Antonio Sferrazza. Each of these individuals played a crucial role in ensuring the successful completion of this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$46,933.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$3,126.47
Cash-on-Cash Return-1.27%
Monthly Debt Service$4,171.65
Annual Debt Service$50,059.79
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