Nirav Patel Purchases Retail Properties At 84-39 Jamaica Avenue For $4.55M With Seller's Rep Ripco
84-39 Jamaica Avenue, 84-45 Jamaica Avenue & 86-26 85th Street
$4,550,000
$232/SF
Building Size
19,535 SF
Asset Type
Retail
Closing
Jun 3, 2026
AI
The asset involved in this transaction is a retail property located at 84-39 Jamaica Avenue, 84-45 Jamaica Avenue & 86-26 85th Street in the Woodhaven market. The property was sold for $4,550,000, covering a total square footage of 13,640 with a price per square foot of $333.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $4,550,000
- Buyer: Nirav Patel
- Seller: Charles Scaturro
- Seller's Representative: Stephen R. Preuss Sr., Andreas Efthymiou, Kevin Schmitz, Kevin Louie & Jack Rovner - Ripco
- Market: Woodhaven
- Square Footage: 13,640
- Price per Square Foot: $333
Key individuals involved in this transaction include Nirav Patel as the buyer and Charles Scaturro as the seller. The seller was represented by a team from Ripco, comprising Stephen R. Preuss Sr., Andreas Efthymiou, Kevin Schmitz, Kevin Louie, and Jack Rovner, who facilitated the deal.
Players
Woodhaven Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.49%
Cash-on-Cash
-1.00%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93