Armond Mkhitarian Acquires Retail Asset From Peter Andrews For $1.7 Million In Williston Park
46 48 Hillside Avenue
$1,700,000
$309/SF
Building Size
5,500 SF
Asset Type
Retail
Closing
Jan 7, 2025
About this deal
AI
The retail asset located at 46-48 Hillside Avenue in Williston Park has been sold for $1,700,000. The property encompasses a total square footage of 5,500, with a price per square foot of $309.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $1,700,000
- Address: 46-48 Hillside Avenue
- Market: Williston Park
- Square Footage: 5,500
- Price per Square Foot: $309
- Buyer: Armond Mkhitarian
- Seller: Peter Andrews
- Brokers: Stephen R. Preuss Sr., Christian Allimonos & Andreas Efthymiou - Ripco
In this transaction, Armond Mkhitarian acquired the property from Peter Andrews. The brokers representing the deal were Stephen R. Preuss Sr., Christian Allimonos, and Andreas Efthymiou from Ripco, facilitating the agreement between the buyer and seller.
On the Map
$1,700,000
$309/SF
Retail
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Players
Williston Park 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
9.33%
Cash-on-Cash
-2.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93