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3106 Hempstead Turnpike, Le...

John Varghese Acquires Central Nassau County Retail Property For $1.975M
SOLDRetail

John Varghese Acquires Central Nassau County Retail Property For $1.975M

3106 Hempstead Turnpike, Levittown, New York 11756, United States

$1,975,000

$197/SF

Building Size

10,000 SF

Asset Type

Retail

Closing

Jan 27, 2022

AI

The retail property located at 3106-3120 Hempstead Turnpike in Central Nassau County has been sold. The transaction took place on January 28, 2022. The property, spanning 10,000 square feet, was purchased by John Varghese for a total price of $1,975,000. The sale price per square foot is estimated at $197. The seller, the Folke Family, was represented by Bruce Nelson from Cushman & Wakefield, while Gurpreet "Sonny" Singh from ACC Space Advisors served as the buyer's representative.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $1,975,000
  • Date: January 28, 2022
  • Address: 3106-3120 Hempstead Turnpike
  • Market: Central Nassau County
  • Square Footage: 10,000
  • Price per Square Foot: $197

Gurpreet "Sonny" Singh from ACC Space Advisors represented John Varghese in this transaction, while Bruce Nelson from Cushman & Wakefield served as the seller's representative for the Folke Family.

Players

Gurpreet Singh

Cushman & Wakefield

Broker

$12.3M

vol

7 deals

Broker
ACC Space
ACC SpaceBrokerage

Levittown 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

8.03%

Cash-on-Cash

-2.30%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93