Alfred Mitchell Purchases Retail Property At 108-18 72nd Avenue For $2.3M From Glenn Lori
108-18 72nd Avenue
$2,300,000
$500/SF
Building Size
4,600 SF
Asset Type
Retail
Closing
Dec 18, 2024
AI
The retail property located at 108-18 72nd Avenue in the Forest Hills market has been sold for a transaction amount of $2,300,000. This property encompasses a total area of 4,600 square feet, equating to a price per square foot of $500.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $2,300,000
- Address: 108-18 72nd Avenue
- Market: Forest Hills
- Square Footage: 4,600
- Price Per Square Foot: $500
- Buyer: Alfred Mitchell
- Seller: Glenn Lori
- Brokers: Stephen R. Preuss Sr., Andreas Efthymiou, Christian Allimonos & Charles Schirrmeister - Ripco
In this transaction, Alfred Mitchell acted as the buyer while Glenn Lori served as the seller. The brokerage team representing the transaction included Stephen R. Preuss Sr., Andreas Efthymiou, Christian Allimonos, and Charles Schirrmeister from Ripco.
Players
Forest Hills 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
6.90%
Cash-on-Cash
-1.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93