Joyland Management Acquires Retail Assets In Staten Island For $59M
2925 Veterans Road West, Staten Island, New York 10309, United States
$59,000,000
$380/SF
Building Size
155,100 SF
Asset Type
Retail
Closing
Mar 15, 2022
About this deal
AI
A retail property located at 2925, 2935, 2945, 2965, and 2955 Veterans Rd. W. in Staten Island has been sold for a price of $59,000,000. The property spans an area of 155,100 square feet, resulting in a price per square foot of $380. The sale took place on March 16, 2022.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $59,000,000
- Address: 2925, 2935, 2945, 2965 & 2955 Veterans Rd. W., Staten Island
- Market: Staten Island
The buyer of the property is Joyland Management, represented by Judy Wolcowitz. The seller in this transaction is David Berman. The broker involved in this deal is James Prendamano from Prendamano Real Estate. The lender for the purchase is Emerald Creed Capital, with the mortgage broker being Morris Betesh from Meridian Capital. This transaction was completed on March 16, 2022.
On the Map
$59,000,000
$380/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
0.27%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93