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90 Northern Boulevard, Grea...

Amy Kit Ning Mak Acquires 4,260 SF Retail Property In Great Neck For $3.05M
SOLDRetail

Amy Kit Ning Mak Acquires 4,260 SF Retail Property In Great Neck For $3.05M

90 Northern Boulevard, Great Neck, Nassau County, NY, USA

$3,050,000

$716/SF

Building Size

4,260 SF

Asset Type

Retail

Closing

Oct 14, 2021

AI

90 Northern Boulevard in Great Neck, Nassau County, has recently been sold in a retail transaction. The freestanding vacant retail building boasts an impressive Northern Boulevard frontage and spans a total of 4,260 square feet. The property was developed in 2014 and features top-notch architecture and interior finishes, including stunning glass visuals along Northern Boulevard. The sale price for the property was $3,050,000, translating to a price per square foot of $716, which is a record-breaking figure for the area.

Summary of transaction details

  • Property Type: Retail
  • Address: 90 Northern Boulevard, Great Neck, Nassau County
  • Market: Nassau County
  • Buyer: Amy Kit Ning Mak
  • Asking Price: $3,500,000
  • Sale Price: $3,050,000
  • Square Footage: 4,260
  • Price Per Square Foot: $716

The buyer, Amy Kit Ning Mak, successfully acquired the property with the assistance of brokers Daniel Abbondandolo, Joegy Raju, and Melissa Naeder of Cushman & Wakefield. The impressive architecture and prime location of the building, combined with its prior usage as Gold Coast Maserati / Alfa Romeo's premises, contributed to the high-value transaction. Overall, this deal exemplifies the expertise and market knowledge of TEAMABBONDANDOLO and Melissa Naeder in Long Island and the Outer Boroughs capital markets and investment sales.

Players

Daniel Abbondandolo

Cushman & Wakefield

Broker

$509.6M

vol

84 deals

Broker

Great Neck 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

5.20%

Cash-on-Cash

-1.49%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93