Parkoff Organization Acquires Retail Property In Hewlett For $4.1M
SOLD
$4,100,000
New York
See Similar DealsRetail105,600 SF
Sold 12/24/2019
SOLD
Parkoff Organization Acquires Retail Property In Hewlett For $4.1M
1205 Station Plaza, Hewlett, NY 11557, USA
See Similar DealsRetail105,600 SF
Sold 12/24/2019
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$38
Total Square Footage:105,600 SF
Transaction Type:Sale
16-28 Franklin Avenue, 1205-1215 Station Plaza, and 2 New St in Hewlett have been sold for $4,100,000. The retail property spans across 10,560 square feet with a price per square foot of $388. The cap rate for this transaction is 7.3%.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $4,100,000
- Square Footage: 10,560
- Price Per Square Foot: $388
- Cap Rate: 7.3%
- Market: Hewlett
The Rinzler Family served as the seller in this deal, while the Parkoff Organization, represented by Adam Parkoff, acted as the buyer. The Collaborative Group, represented by Andrew Natter and Harold Fuchs, facilitated the transaction as brokers.
Players
BROKERAGE
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$218,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,566.44
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,436.09
Annual Debt Service$233,233.10
Is there something missing? Send suggestions