Prime Time Realty LLC Acquires Package Deal Retail Properties In Staten Island For $6.3M
245 Page Avenue, Staten Island, NY, USA
$6,325,000
$1,265/SF
Building Size
5,000 SF
Asset Type
Other
Closing
Jul 14, 2021
About this deal
AI
A package deal in Staten Island recently closed at a sale price of $6,325,000. The deal involved two retail properties located at 245 & 271 Page Avenue, with a total square footage of 5,000. The buyer, Prime Time Realty LLC, represented by Joey Rishty, acquired the properties from Murray Page. John Oliveri of STL Realty LLC served as the broker for the transaction.
Summary of transaction details
- Property Type: Package Deal - Retail
- Transaction Amount: $6,325,000
- Address: 245 & 271 Page Avenue
- Market: Staten Island
- Square Footage: 5,000
- Buyer: Prime Time Realty LLC - Joey Rishty
- Seller: Murray Page
- Broker: John Oliveri - STL Realty LLC
The package deal was a successful transaction, facilitated by John Oliveri from STL Realty LLC. The involvement of Prime Time Realty LLC as the buyer and Joey Rishty as their representative showcases their interest in expanding their retail portfolio in Staten Island. On the other hand, Murray Page, as the seller, decided to part ways with the properties.
On the Map
$6,325,000
$1,265/SF
Other
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Players
New York Other Market Snapshot
Boundary boundary · Other · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.51%
Cash-on-Cash
-0.72%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93