facebook
Traded Co logo
Submit

George Voutsinas Acquires Retail Property On Merrick Rd. For $2.1M

Property Image
SOLD
$2,100,000
Rob Cullen
Joe Musso
+ 4

New York

See Similar Deals
Retail9,180 SF
Sold 09/20/2022
the dealplayerscompscontact
Property Image
SOLD

George Voutsinas Acquires Retail Property On Merrick Rd. For $2.1M

3875 Merrick Road, Seaford, New York 11783, United States

See Similar Deals
Retail9,180 SF
Sold 09/20/2022
Rob Cullen
Joe Musso
+ 4
Contact now

Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$228
Total Square Footage:9,180 SF
Transaction Type:Sale

JPMorgan Chase has successfully sold a free-standing bank branch located at 3875 Merrick Rd. in Seaford, Southeast Nassau. The vacant retail property spans 9,180 square feet and sits on a 14,812 square foot lot with 21 parking spaces. The asset was sold for $2,100,000, equating to a price per square foot of $229. Situated on the north side of Merrick Road with 125 feet of frontage and immediate access to Seaford Oyster Bay Expressway (NY-135), this property presents a great opportunity for repositioning.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $2,100,000
  • Address: 3875 Merrick Rd.
  • Market: Southeast Nassau
  • Square Footage: 9,180

The sale was facilitated by Cushman & Wakefield, with Dan Abbondandolo, Joe Musso, Joegy Raju, Connor Sullivan, Rob Cullen, and Victor Little representing JPMorgan Chase as their brokers. For more information about this transaction, please contact the exclusive brokers directly.

Players

Daniel Abbondandolo
84 deals$509.6M volume(631) 425-1232
BROKER

Joegy Raju
Cushman & Wakefield
43 deals$302.6M volume
BROKER

Rob Cullen
Cushman & Wakefield
17 deals$102.1M volume
BROKER

Joe Musso
Cushman & Wakefield
19 deals$104.4M volume
BROKER

Victor Little
Cushman & Wakefield
29 deals$165.3M volume(631) 425-1239
BROKER

Connor Sullivan
Cushman & Wakefield
9 deals$35.1M volume
BROKER


J.P. Morgan Chase
SELLER

Details

SOLD
IMAGE: Dan Abbondandolo & Joe Musso DATE: 09/20/2022 ADDRESS: 3875 Merrick Rd. MARKET: Southeast Nassau ASSET TYPE: Retail BUYER: George Voutsinas SELLER: JPMorgan Chase BROKERS: Dan Abbondandolo (@TeamAbbondandolo), Joe Musso (@JMusso_55), Joegy Raju (@JoegyRaju), Connor Sullivan (@Jammin32), Rob Cullen (@Cullen127) & Victor Little (@Victor.R.Little) - Cushman & Wakefield (@CushWake) SALE PRICE: $2,100,000 SF: 9,180 ~ PPSF: $229 NOTE FROM BROKER: TEAMABBONDANDOLO successfully represented JPMorgan Chase in the disposition of 3875 Merrick Road in Seaford. The vacant 9,180 sq. ft. free-standing bank branch is situated on a 14,812 sq. ft. lot including 21 parking spaces. The asset traded for $2,100,000, or $229 per sq. ft.. Situated on the north side of Merrick Road with 125’ of frontage & immediate access to Seaford Oyster Bay Expressway (NY-135) – the site offers a tremendous repositioning opportunity. For more information about this trade, please reach out to the exclusive brokers directly.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$112,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$7,460.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,955.07
Annual Debt Service$119,460.86