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
About this deal
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.
On the Map
$31,500,000
$407/SF
Retail
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Players
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