Stev Kassin Purchases Retail Property At 2505 Richmond Ave Staten Island For $31.5M
SOLD
$31,500,000
New York
See Similar DealsRetail77,260 SF
Sold 03/15/2023
SOLD
Stev Kassin Purchases Retail Property At 2505 Richmond Ave Staten Island For $31.5M
2505 Richmond Ave
See Similar DealsRetail77,260 SF
Sold 03/15/2023
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$407
Total Square Footage:77,260 SF
Lot Square Footage:192116 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,680,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$111,912.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$149,326.07
Annual Debt Service$1,791,912.85
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