Lotus Management Acquires Retail Property In Riverdale For $2.35M
SOLD
$2,350,000
New York
See Similar DealsRetail6,000 SF
Sold 06/24/2022
SOLD
Lotus Management Acquires Retail Property In Riverdale For $2.35M
5987 Broadway, New York City, New York 10471, United States
See Similar DealsRetail6,000 SF
Sold 06/24/2022
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$391
Total Square Footage:6,000 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$125,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,349.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,140.20
Annual Debt Service$133,682.39
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