Marc Weil Acquires Retail Property In Mamaroneck For $3.95M
SOLD
$3,950,000
New York
See Similar DealsRetail3,000 SF
Sold 10/04/2021
SOLD
Marc Weil Acquires Retail Property In Mamaroneck For $3.95M
651 East Boston Post Road, Mamaroneck, NY, USA
See Similar DealsRetail3,000 SF
Sold 10/04/2021
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$1,316
Total Square Footage:3,000 SF
Transaction Type:Sale
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.
Players
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$210,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,033.51
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,725.02
Annual Debt Service$224,700.18
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