Raymond Hourizadeh Purchases Mixed-use Asset From Kostakis Family In Bayville For $4.3M
14 Bayville Avenue
$4,050,000
$310/SF
Building Size
13,042 SF
Asset Type
Mixed-use
Closing
Apr 2, 2025
About this deal
AI
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.
On the Map
$4,050,000
$310/SF
Mixed-use
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Players
Bayville 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
3.92%
Cash-on-Cash
-1.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93