Jason Worme Acquires Retail Property On Richmond Avenue In New York City For $1.6M
SOLD
$1,600,000
New York
See Similar DealsRetail4,694 SF
Sold 02/21/2023
SOLD
Jason Worme Acquires Retail Property On Richmond Avenue In New York City For $1.6M
962 Richmond Avenue
See Similar DealsRetail4,694 SF
Sold 02/21/2023
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$340
Total Square Footage:4,694 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$85,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,684.48
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,584.82
Annual Debt Service$91,017.80
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