DII Enterprises Acquires Retail Property On Fresh Pond Road In Ridgewood For $8M
66-42 Fresh Pond Road, Ridgewood, NY, USA
$8,000,000
$369/SF
Building Size
21,668 SF
Asset Type
Retail
Closing
Jul 19, 2021
About this deal
AI
The retail property located at 66-42 Fresh Pond Road in Ridgewood has been sold for $8,000,000. The property spans 21,668 square feet, resulting in a price per square foot of $369. The zoning of the property allows for multiple uses, including residential (R6B, R5B) and commercial (C1-4).
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $8,000,000
- Address: 66-42 Fresh Pond Road, Ridgewood
- Market: Ridgewood
- Zoning: R6B, R5B, C1-4
The buyer, DII Enterprises, represented by Morris Dweck, acquired the property from Food City Markets. DII Enterprises, a reputable organization, has made a significant investment in the Ridgewood market with this transaction. Food City Markets, the seller in this deal, has successfully concluded the sale of their retail property.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.98%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93