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Lewis Barbanel Of BRM Development Purchases Retail Plaza In East Greenbush For $17.25M

Property Image
SOLD
$17,250,000

New York

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Retail111,000 SF
Sold 08/04/2025
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Property Image
SOLD

Lewis Barbanel Of BRM Development Purchases Retail Plaza In East Greenbush For $17.25M

598 Columbia Turnpike

See Similar Deals
Retail111,000 SF
Sold 08/04/2025
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$155
Total Square Footage:111,000 SF
Transaction Type:Sale

A 111,000-square-foot retail asset located at 598 Columbia Turnpike in the East Greenbush market was sold for $17,250,000. The property is anchored by Hannaford and represents the first investment of BRM Development in the Albany region, financed through a loan of $10.4 million from UBS AG.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $17,250,000
  • Buyer: Lewis Barbanel - BRM Development
  • Seller: Sacco of Albany LLC & Josben Sacco LLC
  • Square Footage: 111,000
  • Price Per Square Foot: $155
  • Financing: $10.4M loan from UBS AG

The transaction featured Lewis Barbanel representing BRM Development as the buyer, marking a strategic entry into the Albany market, while the sellers were Sacco of Albany LLC and Josben Sacco LLC, facilitating the transfer of ownership.

Players

Lewis Barbanel
Barberry Rose Management
Lewis Barbanel
16 deals$181.6M volume
BUYER

Details

SOLD
IMAGE: Lewis Barbanel DATE: 08/04/2025 ADDRESS: 598 Columbia Turnpike MARKET: East Greenbush ASSET TYPE: Retail BUYER: Lewis Barbanel - BRM Development SELLER: Sacco of Albany LLC & Josben Sacco LLC SALE PRICE: $17,250,000 SF: 111,000 ~ PPSF: $155 NOTE: BRM Development purchased a 111,000-square-foot Hannaford-anchored shopping plaza in East Greenbush for $17.25M—its first investment in the Albany region—financed with a $10.4M loan from UBS AG.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$919,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$61,285.61
Cash-on-Cash Return-1.27%
Monthly Debt Service$81,773.80
Annual Debt Service$981,285.61