Scaturro Family Acquires Retail And Parking Lot In Bellerose For $5.7M With Seller's Rep Cushman & Wakefield
247-20 Jamaica Avenue
$5,700,000
$237/SF
Building Size
23,958 SF
Asset Type
Retail
Closing
Oct 22, 2026
About this deal
AI
The property asset involved in this transaction is a retail location combined with a parking lot located at 247-20 Jericho Turnpike in Bellerose, NY. The sale price of the asset was $5,700,000, and it encompasses a total square footage of 23,958 with a price per square foot of $237.
Summary of transaction details:
- Property Type: Retail + Parking Lot
- Transaction Amount: $5,700,000
- Address: 247-20 Jericho Turnpike
- Market: Bellerose, NY
- Asset Size: 23,958 SF
- Price per SF: $237
- Buyer: Scaturro Family
- Seller: Sammy Aranbayev
- Seller's Representative: Kieran Baker, Dylan Walsh, Dimitri P. Venekas & Nick Kolbus - Cushman & Wakefield
This transaction was executed off market, targeting a 1031 exchange buyer at a cap rate of 5.25%. The completion of this deal reflects the sustained demand for well-located net lease assets despite prevailing market headwinds.
On the Map
$5,700,000
$237/SF
Retail
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Players
Floral Park 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
2.78%
Cash-on-Cash
-0.80%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93