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390 Jericho Turnpike

Gurpreet Singh Acquires Retail Property In Syosset For $5.2M
SOLDRetail

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

Raj Whadwa

Global Realty Services

Broker

$129.4M

vol

22 deals

Broker

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