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
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