Jesus Tiza Acquires Mixed-Use Property On Main Street In Islip For $2.2M
496 Main Street
$2,200,000
$275/SF
Building Size
7,990 SF
Asset Type
Mixed-use
Closing
May 30, 2024
AI
The mixed-use property located at 496 Main Street in Islip was sold for $2,200,000. Spanning 7,990 square feet, the property was acquired by Jesus Tiza from the seller, Andy Chen. The transaction was facilitated by brokers Michael Gronenthal and Jason Merrell of Douglas Elliman, with a price per square foot of $275.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $2,200,000
- Address: 496 Main Street
- Market: Islip
- Buyer: Jesus Tiza
- Seller: Andy Chen
- Brokers: Michael Gronenthal & Jason Merrell - Douglas Elliman
- SF: 7,990
- PPSF: $275
Notable individuals involved in the transaction include Michael Gronenthal and Jason Merrell, who represented the buyer and seller respectively, on behalf of Douglas Elliman.
Players
Islip Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.21%
Cash-on-Cash
-2.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93