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2505 Richmond Ave

Stev Kassin Purchases Retail Property At 2505 Richmond Ave Staten Island For $31.5M
SOLDRetail

Stev Kassin Purchases Retail Property At 2505 Richmond Ave Staten Island For $31.5M

2505 Richmond Ave

$31,500,000

$407/SF

Building Size

77,260 SF

Asset Type

Retail

Closing

Mar 15, 2023

AI

The property located at 2505 Richmond Ave in Staten Island is classified as a retail asset. It was sold for a transaction price of $31,500,000.00 and comprises a total square footage of 77,260.0.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $31,500,000.00
  • Address: 2505 Richmond Ave
  • Market: Staten Island
  • Square Footage: 77,260.0
  • Buyer: Stev Kassin
  • Broker: John Oliveri

Stev Kassin was the buyer involved in this transaction, while John Oliveri acted as the broker representing the buyer for this particular deal.

Players

John Oliveri

STL REALTY

Broker

$133.9M

vol

18 deals

Broker
Steven J. Kassin

Steven J. Kassin

Buyer

$153M

vol

8 deals

Buyer

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

0.50%

Cash-on-Cash

-0.14%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93