Morgan Stanley Acquires Retail Asset At 101 Richmond Hill Road For $26.6M With Newmark Brokers
101 Richmond Hill Road
$26,600,000
$532/SF
Building Size
50,000 SF
Asset Type
Retail
Closing
Sep 3, 2026
About this deal
AI
The property located at 101 Richmond Hill Road in Staten Island is a retail asset comprising 50,000 square feet. The property transacted for $26,600,000, effectively marking a price per square foot of $532.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $26,600,000
- Address: 101 Richmond Hill Road
- Market: Staten Island
- Square Footage: 50,000
- Price Per Square Foot: $532
- Buyer: Morgan Stanley
- Seller: Crown Acquisitions & Wharton Realty Group
- Brokers: Adam Spies, Daniel O'Brien, Eric Williams, Caroline Herodes, Danny Jones & Loren Valla - Newmark
The transaction witnessed key involvement from brokers Adam Spies, Daniel O'Brien, Eric Williams, Caroline Herodes, Danny Jones, and Loren Valla, all representing the buyer and seller through Newmark, efficiently facilitating the deal between Morgan Stanley and Crown Acquisitions & Wharton Realty Group.
On the Map
$26,600,000
$532/SF
Retail
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Players
Staten Island 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
0.60%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93