Garrett Guttenberg Purchases Retail Property From Rettner Family For $1.25M In Long Beach NY
32 34 East Park Avenue
$1,250,000
$312/SF
Building Size
4,000 SF
Asset Type
Retail
Closing
Apr 23, 2025
AI
The retail property at 32-34 East Park Avenue in Long Beach, NY, was sold for $1,250,000. The asset spans 4,000 square feet, leading to a price per square foot of $312.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $1,250,000
- Buyer: Garrett Guttenberg
- Seller: Rettner Family
- Brokers: Aaron Jungreis, Ben Khakshoor, Alex Fuchs & Jonah Corney - Rosewood Realty Group
This transaction was facilitated by the brokerage firm Rosewood Realty Group, represented by Aaron Jungreis, Ben Khakshoor, Alex Fuchs, and Jonah Corney, who played a critical role in the deal's negotiation and closure.
Players
Long Beach 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
12.69%
Cash-on-Cash
-3.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93