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:
- Property Type: Mixed-use
- Transaction Amount: $1,900,000
- Square Footage: 5,000
- Price per Square Foot: $380
- Buyer: Kerri Albers
- Seller: Lisa Binder
- Buyer’s Representative: Jennifer Keschner - Signature Premier Properties
- Seller’s Representatives: Luca DiCiero, Nicholas Evangelista & Giuseppe Gregorio - NY Space Finders
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
Oyster Bay 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
8.35%
Cash-on-Cash
-2.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93