The Almonte Family Acquires Merrick Retail Property For $18.5M
1902 Merrick Road, Merrick, NY, USA
$18,500,000
$489/SF
Building Size
37,792 SF
Asset Type
Retail
Closing
Aug 26, 2021
About this deal
AI
The Merrick Shopping Center located at 1902-2016 Merrick Road in Merrick has been sold in a recent transaction. The retail property spans 37,792 square feet and is situated in a prime location. The sale price for this asset was $18,500,000, resulting in a price per square foot of $489.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $18,500,000
- Address: 1902-2016 Merrick Road, Merrick
- Market: Merrick
The Almonte Family acquired the Merrick Shopping Center from the Chosed Family. The sale of this trophy asset was facilitated by Michael Tuccillo and Matthew Klang from Marcus & Millichap-NY, along with David Robinov, Alan Goodkin, and Andrew Nahum from Ackman Ziff. This transaction attracted significant interest from local, regional, and national investors, demonstrating the appeal and value of the property.
For more information on this sale and other similar properties, please reach out to the representatives involved in the deal.
On the Map
$18,500,000
$489/SF
Retail
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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
0.86%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93