Mickey King Acquires Retail Property On Long Island From Christopher Leone For $20M
249 Jericho Turnpike
$20,000,000
$500/SF
Building Size
40,000 SF
Asset Type
Retail
Closing
Sep 12, 2022
About this deal
AI
The retail property located at 249 Jericho Turnpike in Long Island has been sold for a transaction amount of $20,000,000. The property spans 40,000 square feet with a price per square foot of $500. The sale took place on 12/09/2022.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $20,000,000
- Square Footage: 40,000
- Price per Square Foot: $500
- Address: 249 Jericho Turnpike, Long Island
Mickey King purchased the property from Christopher Leone. The deal was facilitated by two brokerages, Great American Brokerage and Windsor Commercial Real Estate.
Players
Mineola 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
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93