Ripco Brokers Facilitate $3M Retail Sale On Mermaid Avenue, New York City
SOLD
$3,000,000
+ 1
New York
See Similar DealsRetail5,770 SF
Sold 06/12/2023
SOLD
Ripco Brokers Facilitate $3M Retail Sale On Mermaid Avenue, New York City
1517 Mermaid Ave Brooklyn, NY 11224, USA
See Similar DealsRetail5,770 SF
Sold 06/12/2023
+ 1
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$519
Total Square Footage:5,770 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$160,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,658.36
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,221.53
Annual Debt Service$170,658.37
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