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386 Forest Avenue

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

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

386 Forest Avenue

$2,200,000

$695/SF

Building Size

3,165 SF

Asset Type

Retail

Closing

Jun 25, 2025

AI

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 Donovan

Meridian Capital Group

Broker

$730.7M

vol

51 deals

Broker
Meridian Capital Group
Meridian Capital GroupBrokerage

Swayne Shu

Seller

$12.4M

vol

4 deals

Seller

Staten Island 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

7.21%

Cash-on-Cash

-2.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93