Murray & Dave Berman Purchase Retail Center In Staten Island For $41M
2955 Veterans Road West, Staten Island, NY 10309
$41,000,000
$292/SF
Building Size
140,000 SF
Asset Type
Retail
Closing
May 29, 2018
About this deal
AI
A retail center located at 2955 Veterans Road West in New York's Staten Island has been sold for $41,000,000. The property spans approximately 140,000 square feet, resulting in a price per square foot of around $293.
Summary of transaction details
- Property Type: Retail Center
- Transaction Amount: $41,000,000
- Address: 2955 Veterans Road West, New York
- Market: Staten Island
- Square Footage: 140,000
The seller of the retail center was Guido Passarelli & Son, while the buyers were Murray & Dave Berman. Casandra Properties, represented by James Prendamano, served as the broker in this transaction. The listing agents for the property were Brian McGowan, Celia Iervasi, and Rob Nixon.
Players
New York 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
0.39%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93