Lotus Management Acquires Retail Property In Riverdale For $2.35M
5987 Broadway, New York City, New York 10471, United States
$2,350,000
$391/SF
Building Size
6,000 SF
Asset Type
Retail
Closing
Jun 23, 2022
AI
The retail property at 5987 Broadway in Riverdale has been sold for a price of $2,350,000. The property spans 6,000 square feet, resulting in a price per square foot of $392. The transaction took place on June 24, 2022.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $2,350,000
- Address: 5987 Broadway
- Market: Riverdale
- Buyer: Lotus Management
- Seller: Ron Rettner
The deal was facilitated by Ben Khakshoor and Alex Fuchs of Rosewood Realty Group, who represented the buyer and seller respectively.
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
6.75%
Cash-on-Cash
-1.93%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93