Aditya Gauba Realty Acquires Retail Property In Syosset For $2.3M With Loan From Gold Coast Bank
510 Jericho Turnpike, Syosset, NY 11791
$2,335,000
$305/SF
Building Size
7,650 SF
Asset Type
Retail
Closing
Nov 6, 2018
About this deal
AI
A retail property located at 510 Jericho Turnpike in Syosset has been involved in a recent closed transaction. The property spans across 7,650 square feet and is owned by Aditya Gauba Realty, represented by Anurag Gauba. The deal was facilitated by broker Michael Chelala from Equicap, who acted as the representative for the buyer. The transaction took place on 11/07/2018.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $2,335,000
- Loan Amount: $2,335,000
- Loan Terms: 75% LTV
- Lender: Gold Coast Bank
- Landlord: Aditya Gauba Realty - Anurag Gauba
- Broker: Michael Chelala @equicap_
During the negotiation process, Michael Chelala was able to secure a substantial cash out for the borrower, as per @lord_lala's note.
Players
Syosset Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.79%
Cash-on-Cash
-1.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93