Infinity Real Estate Acquires Retail Property On Richmond Avenue In Staten Island For $31.5M
2505 Richmond Ave, Staten Island, NY 10314, USA
$31,500,000
$40/SF
Building Size
778,460 SF
Asset Type
Retail
Closing
Sep 8, 2020
About this deal
AI
A retail property located at 2505 Richmond Avenue in Staten Island has been sold for $31,500,000. The property spans 77,846 square feet, resulting in a price per square foot of $404. The site is zoned as C4-1 and falls under tax class 4. The lot measures 299 feet by 473 feet.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $31,500,000
- Market: Staten Island
- Address: 2505 Richmond Avenue
- Square Footage: 77,846
- Price per Square Foot: $404
- Zoning: C4-1
- Tax Class: 4
- Lot Size: 299 ft x 473 ft
The buyer of the property is Infinity Real Estate, represented by Steven Kassin. The seller in this transaction is Madison International Realty.
On the Map
$31,500,000
$40/SF
Retail
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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