Regency Centers Acquires Mixed-use Property At 402 Main Street Armonk For $26.5 Million
402 Main Street
$26,500,000
$500/SF
Building Size
53,000 SF
Asset Type
Mixed-use
Closing
May 11, 2025
About this deal
AI
The property involved in this transaction is a mixed-use asset located at 402 Main Street in Armonk, encompassing 10 residential and 12 retail units. The sale price was $26,500,000, with a total square footage of 53,000, resulting in a price per square foot of $500. The property features a total of 22 units.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $26,500,000
- Square Footage: 53,000
- Price Per Square Foot: $500
- Units: 22
- Buyer: Regency Centers
- Seller: ASQ
- Brokers: Jim Aries & Jeff Kintzer - Royal Properties
Jim Aries and Jeff Kintzer, representing Royal Properties, facilitated the transaction on behalf of the seller, ASQ. The deal showcases the collaboration between Regency Centers and ASQ, emphasizing the active involvement of brokerage expertise in executing the sale.
On the Map
$26,500,000
$500/SF
Mixed-use
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Players
Armonk 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
0.60%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93