Nevin Baratian Acquires Retail Property In Merrick For $1.65M
SOLD
$1,650,000
New York
See Similar DealsRetail6,162 SF
Sold 07/15/2020
SOLD
Nevin Baratian Acquires Retail Property In Merrick For $1.65M
1833 Sunrise Highway, Merrick, New York 11566, United States
See Similar DealsRetail6,162 SF
Sold 07/15/2020
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$267
Total Square Footage:6,162 SF
Transaction Type:Sale
A retail property located at 1833 Sunrise Hwy. in Merrick has recently been sold in a closed transaction. The property spans an area of 6,162 square feet, with a price-per-square-foot (PPSF) value of $267. The sale took place on July 15, 2021, and the transaction involved the following parties:
- Buyer: Nevin Baratian
- Seller: Guy Savia
- Brokers: Lauren Santaniello & Dominique Florio
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $1,650,000
- Address: 1833 Sunrise Hwy., Merrick
- Market: Merrick
The sale was facilitated by brokers Lauren Santaniello and Dominique Florio. They represented the buyer, Nevin Baratian, and the seller, Guy Savia, in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$88,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,862.09
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,821.84
Annual Debt Service$93,862.10
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