Morris Bailey Purchases Retail Property At 2385 Richmond Avenue Staten Island For $9M
2385 Richmond Avenue
$9,000,000
$236/SF
Building Size
38,000 SF
Asset Type
Retail
Closing
Jun 28, 2010
About this deal
AI
The asset involved in this transaction is a retail property located at 2385 Richmond Avenue in the Staten Island market. The property encompasses 38,000 square feet and has a sale price of $9,000,000.00.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $9,000,000.00
- Address: 2385 Richmond Avenue
- Market: Staten Island
- Square Footage: 38,000.0
- Buyer: Morris Bailey
- Brokers: John Oliveri
Morris Bailey is the individual who purchased the property, represented in this transaction by broker John Oliveri. The deal was executed on June 28, 2010, marking a significant event in the Staten Island real estate market.
On the Map
$9,000,000
$236/SF
Retail
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Staten Island 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
1.76%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93