Jason Worme Acquires Retail Property On Richmond Avenue In New York City For $1.6M
962 Richmond Avenue
$1,600,000
$340/SF
Building Size
4,694 SF
Asset Type
Retail
Closing
Feb 21, 2023
AI
The retail property located at 962 Richmond Avenue in New York City has been sold. The transaction took place on 02/21/2023. The property spans an area of 4,694 square feet and was sold for a price of $1,600,000, resulting in a price per square foot of $341.
Summary of transaction details
- Property Type: Retail
- Sale Price: $1,600,000
- Square Footage: 4,694
- Address: 962 Richmond Avenue
- Market: New York City
Jason Worme acted as the buyer in this transaction, while Abdul Hameed was the seller. The buyer was represented by Christian Rodriguez from HedgeStone Business Advisors, while the seller was represented by Darpan Patel from Marcus & Millichap.
Players
Market 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
9.91%
Cash-on-Cash
-2.83%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93