Urban Edge Properties Acquires Sunrise Mall In Massapequa For $29.7M From Unibail-Rodamco-Westfield
1 Sunrise Mall, Massapequa, NY, USA
$29,700,000
$24/SF
Building Size
1,200,000 SF
Asset Type
Retail
Closing
Jan 3, 2021
AI
Urban Edge Properties, represented by Jeff Olson, has acquired a retail property located at 1 Sunrise Mall in Massapequa. The property was sold by Unibail-Rodamco-Westfield, with Jean-Marie Tritant representing the seller. The transaction took place on January 4, 2021.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $29,700,000
- Square Footage: 1,200,000
- Acres: 77
- Address: 1 Sunrise Mall, Massapequa
Urban Edge Properties, led by Jeff Olson, successfully completed the acquisition of the retail property. Unibail-Rodamco-Westfield, represented by Jean-Marie Tritant, acted as the seller in this deal.
Players
Massapequa Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93