Jeff Sutton Acquires Retail Asset At 65 63 Grand Avenue Maspeth For $10.45M
SOLD
$10,450,000
New York
See Similar DealsRetail2,998 SF
Sold 11/28/2018
SOLD
Jeff Sutton Acquires Retail Asset At 65 63 Grand Avenue Maspeth For $10.45M
65 63 Grand Avenue
See Similar DealsRetail2,998 SF
Sold 11/28/2018
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$3,485
Total Square Footage:2,998 SF
Lot Square Footage:12600 SF
Transaction Type:Sale
The property asset involved in this transaction is a retail space located at 65 63 Grand Avenue in the Maspeth market. The transaction was completed for a price of $10,450,000.00, with a total area of 2,998 square feet.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $10,450,000.00
- Address: 65 63 Grand Avenue
- Market: Maspeth
- Square Footage: 2,998.0
- Buyer: Jeff Sutton
- Broker: John Oliveri
- Sale Date: 11/28/2018
Key individuals involved in this deal include the buyer, Jeff Sutton, who has acquired the retail asset. The representation for this transaction was handled by broker John Oliveri, who facilitated the arrangement of this sale.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$557,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$37,126.65
Cash-on-Cash Return-1.27%
Monthly Debt Service$49,538.33
Annual Debt Service$594,459.98
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