Regency Centers Acquires Mixed-use Property At 402 Main Street Armonk For $26.5 Million
SOLD
$26,500,000
New York
See Similar DealsMixed-use53,000 SF
Sold 05/12/2025
SOLD
Regency Centers Acquires Mixed-use Property At 402 Main Street Armonk For $26.5 Million
402 Main Street
See Similar DealsMixed-use53,000 SF
Sold 05/12/2025
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$500
Total Square Footage:53,000 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,413,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$94,148.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$125,623.52
Annual Debt Service$1,507,482.24
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