United Properties Corp Acquires Mt Sinai Shopping Center In Long Island For $29.75M
SOLD
$29,750,000
New York
See Similar DealsOther30,000 SF
Sold 10/17/2017
SOLD
United Properties Corp Acquires Mt Sinai Shopping Center In Long Island For $29.75M
5505 Nesconset Highway, Mount Sinai, NY 11766, USA
See Similar DealsOther30,000 SF
Sold 10/17/2017
Summary
NEW YORK
Asset Type:Other
Price Per Square Foot:$991
Total Square Footage:30,000 SF
Transaction Type:Sale
Mt Sinai Shopping Center, located at 5505 Nesconset Hwy in Long Island, was recently sold in a closed transaction. The shopping center, which is a shopping center asset, was sold for a price of $29,750,000.
Summary of transation details
- Property Type: Shopping Center
- Transaction Amount: $29,750,000
- Seller: Glen & Kenneth Frank
- Buyer: United Properties Corp
- Broker: Silber Inv't Properties - Aaron Etessami
- Market: Long Island
The deal's main parties involved in this transaction were Glen & Kenneth Frank, who acted as the sellers, and United Properties Corp, who acted as the buyers. The brokerage firm Silber Inv't Properties was responsible for representing the sellers and their broker representative was Aaron Etessami.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,586,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$105,695.46
Cash-on-Cash Return-1.27%
Monthly Debt Service$141,030.18
Annual Debt Service$1,692,362.13
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