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3739 Glen Street Property LLC Acquires Mixed-Use Building In Glen Cove For $2.95M
SOLD
$2,950,000
New York
See Similar DealsMixed-use11,600 SF
Sold 12/19/2024
SOLD
3739 Glen Street Property LLC Acquires Mixed-Use Building In Glen Cove For $2.95M
37-39 Glen Street
See Similar DealsMixed-use11,600 SF
Sold 12/19/2024
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$254
Total Square Footage:11,600 SF
Transaction Type:Sale
A mixed-use property located at 37-39 Glen Street in Glen Cove was sold for $2,950,000. The building spans 11,600 square feet and includes vacant office and retail spaces, presenting an opportunity for the buyer to undertake renovations to enhance leasing potential. The sale represents an 8.3% cap rate.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $2,950,000
- Buyer: 3739 Glen Street Property LLC
- Seller: Glen Cove 26 LLC
- Broker: Brian McKenna - Real Broker NY
The transaction was executed involving 3739 Glen Street Property LLC, a New York-based investor, acquiring the property from Glen Cove 26 LLC. Brian McKenna from Real Broker NY represented the buyer in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$157,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,480.74
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,984.51
Annual Debt Service$167,814.06
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