Abro Management Acquires Retail Property In Inwood, Manhattan From Prana Investments For $3.7M
SOLD
$3,700,000
New York
See Similar DealsRetail5,000 SF
Sold 10/03/2022
SOLD
Abro Management Acquires Retail Property In Inwood, Manhattan From Prana Investments For $3.7M
220 Nagle Avenue
See Similar DealsRetail5,000 SF
Sold 10/03/2022
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$740
Total Square Footage:5,000 SF
Transaction Type:Sale
Abro Management has acquired a retail property located at 220 Nagle Avenue in Inwood, Manhattan. The property was sold by Prana Investments in a closed transaction.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $3,700,000
- Square Footage: 5,000
- Price per Square Foot: $740
- Buyer: Abro Management
- Seller: Prana Investments
- Brokers: Lazer Sternhell & Peter Vanderpool - Cignature Realty
Cignature Realty, represented by Lazer Sternhell and Peter Vanderpool, facilitated the deal between Abro Management and Prana Investments. Cignature Realty is a leading firm in New York Metro multifamily and apartment building sales, having received the CoStar Top Firms honor four times. For more information about Cignature Realty's sold deals, recent news, market reports, and current listings, visit CignatureRealty.com.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$197,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$13,145.33
Cash-on-Cash Return-1.27%
Monthly Debt Service$17,539.89
Annual Debt Service$210,478.65
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