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53-59 West Main Street

Kerri Albers Purchases Mixed-Use Property At 53-59 West Main Street For $1.9M
SOLDMixed-use

Kerri Albers Purchases Mixed-Use Property At 53-59 West Main Street For $1.9M

53-59 West Main Street

$1,900,000

$380/SF

Building Size

5,000 SF

Asset Type

Mixed-use

Closing

Oct 15, 2024

AI

The property involved in this transaction is a mixed-use asset located at 53-59 West Main Street, situated in the Oyster Bay & Long Island market. The total sale price for the property was $1,900,000, and it encompasses a total square footage of 5,000. The price per square foot comes to $380. The asset includes three apartments along with four storefronts.

Summary of transaction details:

This transaction highlights the participation of key individuals including Kerri Albers as the buyer, while Lisa Binder represented the seller. The buyer's interests were advocated by Jennifer Keschner from Signature Premier Properties. The seller's side was represented by a team from NY Space Finders consisting of Luca DiCiero, Nicholas Evangelista, and Giuseppe Gregorio, bringing a collaborative effort to the deal.

Players

Luca DiCiero

NY Space Finders

Broker

$124.3M

vol

151 deals

Broker

Oyster Bay 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

8.35%

Cash-on-Cash

-2.39%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93