SCG Retail Sells Cortland Retail Property For $12.2M With Brokers Cleeman Realty Group
3932 NY-281 Cortland, NY 13045, USA
$12,200,000
$158/SF
Building Size
77,000 SF
Asset Type
Retail
Closing
Aug 17, 2023
AI
A retail property located at 3932 Ny-281 in Cortland has been sold for a total price of $12,200,000. The property consists of approximately 77,000 square feet, resulting in a price per square foot of $158. The seller of the property was SCG Retail.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $12,200,000
- Address: 3932 Ny-281, Cortland
The transaction was facilitated by Cleeman Realty Group, represented by brokers Michael Cleeman and Samuel Seelenfreund. They played a key role in finalizing the deal between SCG Retail and the buyer of the property.
Players
New York 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
1.30%
Cash-on-Cash
-0.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93