Gurpreet Singh Acquires Retail Property In Syosset For $5.2M
390 Jericho Turnpike
$5,200,000
$900/SF
Building Size
5,778 SF
Asset Type
Retail
Closing
Apr 15, 2024
AI
The retail property located at 390 Jericho Turnpike in Syosset was the subject of a recent transaction. The property spans 5,778 square feet and was sold for $5,200,000, equating to a price per square foot of $900. The sale took place on 04/15/2024 and involved Gurpreet Singh as the buyer and Apple Bank as the seller.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $5,200,000
- Address: 390 Jericho Turnpike
- Market: Syosset
The deal was facilitated by Raj Whadwa and Mani Nagpal from Global Realty Services, representing the buyer, and Jon Winzelberg from Ripco, representing the seller. It signifies a significant transaction within the Syosset retail market, showcasing the active involvement of key industry players in property acquisitions.
Players
Jericho 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
3.05%
Cash-on-Cash
-0.87%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93