Regency Centers Acquires Long Island Retail Portfolio For $130M
207-225 West Merrick Road, Valley Stream, New York 11580, United States
$130,000,000
$325/SF
Building Size
400,000 SF
Asset Type
Retail
Closing
Jan 7, 2022
AI
Regency Centers has acquired a retail property portfolio on Long Island for $130,000,000. The portfolio includes four properties: 207-225 Merrick Rd., 1897 Front Street, 5 Eastport Manor Rd., and 6225-6277 Route 25A. The total square footage of the portfolio is 400,000, resulting in a price per square foot of $325. The seller of the properties was Serota Properties. The transaction was facilitated by Kenneth Schuckman of Schuckman Realty.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $130,000,000
- Address: 207-225 Merrick Rd., 1897 Front Street, 5 Eastport Manor Rd., and 6225-6277 Route 25A
- Market: Long Island
- Buyer: Regency Centers
- Seller: Serota Properties
- Broker: Kenneth Schuckman - Schuckman Realty
- Square Footage: 400,000
- Price per Square Foot: $325
The acquisition by Regency Centers represents a notable addition to their retail property portfolio on Long Island. With the purchase of the four properties, Regency Centers further strengthens their presence in the retail market. Serota Properties, the seller, has successfully executed this transaction, guided by Kenneth Schuckman of Schuckman Realty.
Players
Valley Stream 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
0.12%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93