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2955 Veterans Road West, St...

Murray & Dave Berman Purchase Retail Center In Staten Island For $41M
SOLDRetail

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

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

Brian Mcgowan

Keller Williams Realty

Broker

$61M

vol

2 deals

Broker

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