Jack Terzi Acquires Retail Property In Yonkers For $12.5M
SOLD
$12,500,000
New York
See Similar DealsRetail40,000 SF
Sold 03/05/2019
SOLD
Jack Terzi Acquires Retail Property In Yonkers For $12.5M
2700 Central Park Avenue, Yonkers, NY, USA
See Similar DealsRetail40,000 SF
Sold 03/05/2019
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$312
Total Square Footage:40,000 SF
Transaction Type:Sale
The retail property located at 2700 Central Park Ave in Yonkers has been sold in a transaction. The property spans an area of 40,000 square feet with a selling price of $12.5 million, resulting in a price per square foot of $312.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $12.5 million
- Address: 2700 Central Park Ave, Yonkers
- Market: Yonkers
The seller, Robert Hopfenberg, represented by Fay Estates, sold the property to the buyer, Jack Terzi of JTRE. The transaction was facilitated by brokers Jeff Kintzer and Karnit Mosberg from Royal Properties Inc.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$666,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$44,409.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$59,256.38
Annual Debt Service$711,076.53
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