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349 Mamaroneck Avenue

Frank Smith Acquires Retail Property In Mamaroneck For $1.25M
SOLDMultiFamily

Frank Smith Acquires Retail Property In Mamaroneck For $1.25M

349 Mamaroneck Avenue & 355 Mamaroneck Avenue

$1,250,000

$227/SF

Building Size

5,500 SF

Asset Type

MultiFamily

Closing

Dec 20, 2023

AI

Located at 349-355 Mamaroneck Avenue in Mamaroneck, this retail property has been sold in a recent transaction. The property consists of 4 units with a total area of 2,750 square feet. The sale price for this transaction was $1,250,000, resulting in a price per unit of $312,500 and a price per square foot of $455.

Summary of Transaction Details:

  • Property Type: Retail
  • Transaction Amount: $1,250,000
  • Units: 4
  • Price per Unit: $312,500
  • Square Footage: 2,750
  • Price per Square Foot: $455
  • Market: Mamaroneck

The buyer in this transaction is Frank Smith, while the seller is Sing Kwok. The deal was facilitated by Michael Scrima, Thomas Gorman Jr., and Sean Campbell from Redwood Realty Advisors.

Players

Michael Scrima

Houlihan Lawrence Commercial

Broker

$214.1M

vol

60 deals

Broker
Thomas Gorman Jr.
Verified Badge

Thomas Gorman Jr.

Houlihan Lawrence Commercial

Broker

$240M

vol

62 deals

Broker

Mamaroneck MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

12.69%

Cash-on-Cash

-3.63%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93