Nevin Baratian Acquires Retail Property In Merrick For $1.65M
1833 Sunrise Highway, Merrick, New York 11566, United States
$1,650,000
$267/SF
Building Size
6,162 SF
Asset Type
Retail
Closing
Jul 15, 2020
About this deal
AI
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.
Players
Merrick 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
9.61%
Cash-on-Cash
-2.75%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93