SOLDRetail
Ripco Brokers Facilitate $3M Retail Sale On Mermaid Avenue, New York City
1517 Mermaid Ave Brooklyn, NY 11224, USA
$3,000,000
$519/SF
Building Size
5,770 SF
Asset Type
Retail
Closing
Jun 12, 2023
AI
A retail property located at 1517-1523 Mermaid Avenue in New York City has been sold for a price of $3,000,000. The property spans a total of 5,770 square feet, resulting in a price per square foot of $520.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $3,000,000
- Address: 1517-1523 Mermaid Avenue, New York City
- Square Footage: 5,770
- Price per Square Foot: $520
The deal was facilitated by the following brokers from Ripco: Stephen R. Preuss Sr., Kevin Louie, Eddie Esses, and Alex Svetlakou.
Players
New York 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
5.29%
Cash-on-Cash
-1.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93