Eric Hirani Acquires Mixed-use Property In Hicksville For $1.6M With Seller's Reps Gronenthal & Merrell
4 Jerusalem Ave, Hicksville, NY, USA
$1,600,000
$333/SF
Building Size
4,800 SF
Asset Type
Mixed-use
Closing
Nov 19, 2021
About this deal
AI
The mixed-use property located at 4 N. Jerusalem in Hicksville has been sold. The transaction took place on November 19, 2021. The property is zoned for mixed-use purposes and is situated in the NB (Neighborhood Business) zone. The asset spans a total area of 4,800 square feet.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $1,600,000
- Address: 4 N. Jerusalem, Hicksville
- Market: Hicksville
- Zoning: NB
The buyer of the property is Eric Hirani, while the seller is Michael Otto. Hootan Moeirzadeh represented the buyer, while Douglas Elliman's Michael Gronenthal and Jason Merrell represented the seller.
The property was listed for an asking price of $1,800,000, but it was ultimately sold for $1,600,000. With a size of 4,800 square feet, the sale price equates to approximately $333 per square foot.
On the Map
$1,600,000
$333/SF
Mixed-use
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Players
Hicksville 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
9.91%
Cash-on-Cash
-2.83%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93