Marc Weil Acquires Retail Property In Mamaroneck For $3.95M

Located at 651 East Boston Post Road in Mamaroneck, this retail property was recently sold for $3,950,000. Spanning 3,000 square feet, the property was purchased by Marc Weil at a price per square foot of $1,316. The transaction took place on October 04, 2021, and the property is situated in a vibrant market.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $3,950,000
• Square Footage: 3,000
• Price per Square Foot: $1,316
• Market: Mamaroneck

The deal was facilitated by Jenel Management, represented by Joseph Dushey, who acted as the seller. On the buyer's side, Marc Weil enlisted the assistance of Anand Melwani from ARM Real Estate Group as his representative. The transaction had a capitalization rate of 5.75%, indicating a favorable return on investment.