Move Realty Acquires Retail Property In Massapequa For $2.4M
896a North Broadway, Massapequa, New York 11758, United States
$2,400,000
$273/SF
Building Size
8,776 SF
Asset Type
Retail
Closing
Feb 15, 2022
About this deal
AI
Located at 896A-898 N. Broadway in Massapequa, this retail property was recently sold in a transaction on 02/16/2022. The property spans approximately 8,776 square feet and features a sale price of $2,400,000, resulting in a price per square foot of $273. The buyer, Move Realty, acquired the property from the seller, Genius Group.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $2,400,000
- Address: 896A-898 N. Broadway, Massapequa
- Market: Massapequa
Danny Volk, representing Vantage Real Estate Advisors, and Gus Lafkas, representing Douglas Elliman, served as the brokers in this transaction. Their expertise and negotiation skills played a significant role in facilitating the deal between Move Realty and Genius Group.
Players
Massapequa 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
6.61%
Cash-on-Cash
-1.89%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93