Piyush Golia & Peter Cosentino Acquire Retail Property In Lake Grove For $42M
SOLD
$42,000,000
New York
See Similar DealsRetail50,000 SF
Sold 12/21/2022
SOLD
Piyush Golia & Peter Cosentino Acquire Retail Property In Lake Grove For $42M
135 Alexander Avenue
See Similar DealsRetail50,000 SF
Sold 12/21/2022
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$840
Total Square Footage:50,000 SF
Transaction Type:Sale
A retail property located at 135 Alexander Avenue in Lake Grove has been sold for $42,000,000. Spanning 50,000 square feet, the property was acquired by Piyush Golia and Peter Cosentino from seller Paul Bergman. The sale price reflects a per square foot value of $840.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $42,000,000
- Square Footage: 50,000
- Price per Square Foot: $840
- Address: 135 Alexander Avenue, Lake Grove
Raj Whadwa from Global Realty Services USA represented Piyush Golia and Peter Cosentino as their buyer's representative in the transaction, while Jeremy Issac served as the seller's representative.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,239,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$149,217.14
Cash-on-Cash Return-1.27%
Monthly Debt Service$199,101.43
Annual Debt Service$2,389,217.13
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