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3932 NY-281 Cortland, NY 13...

SCG Retail Sells Cortland Retail Property For $12.2M With Brokers Cleeman Realty Group
SOLDRetail

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

Michael Cleeman

Cleeman Realty Group

Broker

$185.6M

vol

19 deals

Broker
SR
SCG RetailSeller

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