3739 Glen Street Property LLC Acquires Mixed-Use Building In Glen Cove For $2.95M
37-39 Glen Street
$2,950,000
$254/SF
Building Size
11,600 SF
Asset Type
Mixed-use
Closing
Dec 19, 2024
About this deal
AI
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.
On the Map
$2,950,000
$254/SF
Mixed-use
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Players
Glen Cove 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
5.38%
Cash-on-Cash
-1.54%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93