John Tortorella Acquires Retail Property In Long Island For $3.17M
1267 East Main Street
$3,170,000
$372/SF
Building Size
8,500 SF
Asset Type
Retail
Closing
Sep 23, 2022
About this deal
AI
An 8,500 square foot retail property located at 1267 E. Main St. in Long Island has been sold for a total of $3,170,000. The property was purchased by John Tortorella from seller Judy Emanuele. The transaction was facilitated by brokers Luca DiCiero and Giuseppe Gregorio from NY Space Finders, along with Barbara Poliwoda from Douglas Elliman. The sale price per square foot was $372.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $3,170,000
- Address: 1267 E. Main St., Long Island
- Market: Long Island
- Buyer: John Tortorella
- Seller: Judy Emanuele
- Brokers: Luca DiCiero and Giuseppe Gregorio from NY Space Finders, Barbara Poliwoda from Douglas Elliman
- Square Footage: 8,500
- Price Per Square Foot: $372
The transaction involved the buyer, John Tortorella, acquiring the retail property from seller Judy Emanuele. Luca DiCiero and Giuseppe Gregorio from NY Space Finders, along with Barbara Poliwoda from Douglas Elliman, served as the brokers representing the parties involved in the deal.
Players
Riverhead 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
5.00%
Cash-on-Cash
-1.43%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93