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Marwan Abdullah Acquires Office Building In Yonkers, NY For $5.575M

Property Image
SOLD
$5,575,000
Michelle Lala
Marco Lala
Jack Lala
+ 3

New York

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Office48,601 SF
Sold 12/15/2022
the dealplayerscompscontact
Property Image
SOLD

Marwan Abdullah Acquires Office Building In Yonkers, NY For $5.575M

955 Yonkers Avenue & 955 Yonkers Avenue, 955 Yonkers Ave, Yonkers, New York 10704, United States

See Similar Deals
Office48,601 SF
Sold 12/15/2022
Michelle Lala
Marco Lala
Jack Lala
+ 3
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Office
Price Per Square Foot:$114
Total Square Footage:48,601 SF
Transaction Type:Sale

A 48,553 square foot office property located at 955 Yonkers Avenue in Yonkers has been sold for $5,575,000. The sale was completed on December 15, 2022. The property was purchased by Marwan Abdullah from the seller, Prana Investments, represented by Rick Herman. The transaction was facilitated by Marco Lala, David Raciti, Jack Lala, Michelle Lala, and David Scotto from RM Friedland.

Summary of Transaction Details

  • Property Type: Office
  • Transaction Amount: $5,575,000
  • Square Footage: 48,553
  • Price per Square Foot: $115
  • Address: 955 Yonkers Avenue
  • Market: Yonkers

In this deal, Marco Lala, David Raciti, Jack Lala, Michelle Lala, and David Scotto from RM Friedland acted as brokers representing both the buyer and the seller. The transaction showcases the active real estate market in Yonkers, where the property was located.

Players

Jack Lala
RM Friedland
Jack Lala
11 deals$107.1M volume(914) 447-8693
BROKER
Marco Lala
RM Friedland
Marco Lala
13 deals$115.7M volume(914) 843-3535
BROKER
Michelle Lala
RM Friedland
Michelle Lala
11 deals$107.1M volume(973) 405-1394
BROKER
David Scotto
David Scotto
4 deals$19M volume
BROKER
David Raciti
RM Friedland
David Raciti
11 deals$107.1M volume
BROKER
Rick Herman
Prana Investments
Rick Herman
15 deals$110.7M volume
SELLER

Details

SOLD
IMAGE: Marco Lala, David Raciti, Jack Lala, Michelle Lala & David Scotto DATE: 12/15/2022 ADDRESS: 955 Yonkers Avenue MARKET: Yonkers ASSET TYPE: Office BUYER: Marwan Abdullah SELLER: Prana Investments - Rick Herman BROKERS: Marco Lala (@TeamLalaCRE), David Raciti, Jack Lala, Michelle Lala & David Scotto - RM Friedland (@RMFriedland) SALE PRICE: $5,575,000 SF: 48,553 ~ PPSF: $115

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$297,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$19,806.81
Cash-on-Cash Return-1.27%
Monthly Debt Service$26,428.34
Annual Debt Service$317,140.13