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962 Richmond Avenue

Jason Worme Acquires Retail Property On Richmond Avenue In New York City For $1.6M
SOLDRetail

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

Christian Rodriguez

Broker

$25.5M

vol

5 deals

Broker

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