facebook

traded

+ Submit
Home

/

Deals

/

New York

/

Mixed Use

/

Sale

/

496 Main Street

Jesus Tiza Acquires Mixed-Use Property On Main Street In Islip For $2.2M
SOLDMixed-use

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

Michael Gronenthal

Douglas Elliman

Broker

$106.7M

vol

38 deals

Broker

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