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John Saia Acquires Retail Property At 386 Forest Avenue In Staten Island For $2.2M

Property Image
SOLD
$2,200,000
Thomas (Tom) Donovan
Eugene Kim
+ 1

New York

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Retail3,165 SF
Sold 06/26/2025
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Property Image
SOLD

John Saia Acquires Retail Property At 386 Forest Avenue In Staten Island For $2.2M

386 Forest Avenue

See Similar Deals
Retail3,165 SF
Sold 06/26/2025
Thomas (Tom) Donovan
Eugene Kim
+ 1
Contact now

Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$695
Total Square Footage:3,165 SF
Transaction Type:Sale

The property asset involved in the transaction is a retail space located at 386 Forest Avenue in Staten Island. The sale price for this asset was $2,200,000, and it encompasses a total area of 3,165 square feet, resulting in a price per square foot of $695.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $2,200,000
  • Address: 386 Forest Avenue
  • Market: Staten Island
  • Square Footage: 3,165
  • Price per Square Foot: $695
  • Buyer: John Saia
  • Seller: Swayne Shu
  • Brokers: Thomas Donovan, Tommy Lin & Eugene Kim - Meridian Capital Group

The key individuals involved in the deal include John Saia as the buyer and Swayne Shu as the seller. The transaction was facilitated by brokers Thomas Donovan, Tommy Lin, and Eugene Kim from Meridian Capital Group, who represented the buyer and seller in this real estate transaction.

Players

Thomas (Tom) Donovan
51 deals$730.7M volume(646) 502-3481
BROKER

Tommy Lin
Meridian Capital Group
30 deals$515.9M volume(646) 502-3484
BROKER

Eugene Kim
Meridian Capital Group
25 deals$491.1M volume(646) 502-3483
BROKER

Meridian Capital Group
BROKERAGE

Details

SOLD
IMAGE: Tommy Lin, Thomas Donovan & Eugene Kim DATE: 6/26/2025 ADDRESS: 386 Forest Avenue MARKET: Staten Island ASSET TYPE: Retail BUYER: John Saia SELLER: Swayne Shu BROKERS: Thomas Donovan (@TeamDonovan_Meridian), Tommy Lin (@TommyLin.Meridian) & Eugene Kim (@EugeneKim.Meridian) - Meridian Capital Group (@Meridian.Capital.Group) SALE PRICE: $2,200,000 SF: 3,165 ~ PPSF: $695

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$117,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$7,816.15
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,429.12
Annual Debt Service$125,149.47