Pelops Damianos Of Damianos Realty Group Acquires Retail Property In Commack For $16.1M
2160 Jericho Turnpike
$16,100,000
$305/SF
Building Size
52,679 SF
Asset Type
Retail
Closing
Apr 23, 2025
About this deal
AI
A retail property located at 2160 Jericho Turnpike in Commack has been sold for $16,100,000. The asset spans 52,679 square feet, resulting in a price per square foot of $306. The property was fully leased at the time of sale.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $16,100,000
- Address: 2160 Jericho Turnpike
- Market: Commack
- Square Footage: 52,679
- Price per Square Foot: $306
- Buyer: Pelops Damianos - Damianos Realty Group
- Seller: Toy Fields LLC
- Buyer's Representative: John Finn - Damianos Realty Group
- Seller's Representative: Adam Silber - Silber Investment Properties
The acquisition adds to Damianos Realty Group's portfolio, marking its 11th property in Smithtown and its third shopping center in Suffolk County.
On the Map
$16,100,000
$305/SF
Retail
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Players
Commack 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
0.99%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93