Manjit Singh Acquires Mixed-Use Property In Bellerose For $880,000
248-45 Jericho Turnpike
$880,000
$314/SF
Building Size
2,800 SF
Asset Type
Mixed-use
Closing
Jun 11, 2024
AI
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.
Players
Floral Park Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
18.03%
Cash-on-Cash
-5.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93