Raymond Hourizadeh Purchases Mixed-use Asset From Kostakis Family In Bayville For $4.3M
SOLD
$4,050,000
+ 1
New York
See Similar DealsMixed-use13,042 SF
Sold 04/02/2025
SOLD
Raymond Hourizadeh Purchases Mixed-use Asset From Kostakis Family In Bayville For $4.3M
14 Bayville Avenue
See Similar DealsMixed-use13,042 SF
Sold 04/02/2025
+ 1
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$310
Total Square Footage:13,042 SF
Transaction Type:Sale
A mixed-use property located at 14 Bayville Avenue in the Bayville market was sold for $4,300,000. The asset comprises a total square footage of 13,042, resulting in a price per square foot of $330.
Summary of transation details:
- Property Type: Mixed-use
- Transaction Amount: $4,300,000
- Address: 14 Bayville Avenue
- Market: Bayville
- Square Footage: 13,042
- Price per Square Foot: $330
- Buyer: Raymond Hourizadeh
- Seller: Kostakis Family
- Brokers: Luca DiCiero, Giuseppe Gregorio, Faisal Gilani & Nicholas Evangelista - NY Space Finders
- Transaction Close Time: 35 days from executed contract
The transaction involved noted brokers representing both the buyer and the seller. The brokers for this deal were Luca DiCiero, Giuseppe Gregorio, Faisal Gilani, and Nicholas Evangelista, all affiliated with NY Space Finders.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$216,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,388.79
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,199.07
Annual Debt Service$230,388.79
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