Infinity Real Estate Acquires Retail Property On Richmond Avenue In Staten Island For $31.5M
SOLD
$31,500,000
New York
See Similar DealsRetail778,460 SF
Sold 09/09/2020
SOLD
Infinity Real Estate Acquires Retail Property On Richmond Avenue In Staten Island For $31.5M
2505 Richmond Ave, Staten Island, NY 10314, USA
See Similar DealsRetail778,460 SF
Sold 09/09/2020
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$40
Total Square Footage:778,460 SF
Transaction Type:Sale
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.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
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
Is there something missing? Send suggestions