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David Patel Acquires Retail Property At 840 Old Country Road For $8 Million With Brokers Gary Pezza And Benjamin Zone

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SOLD
$6,400,000
Gary Pezza
Benjamin Zone

New York

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Retail11,000 SF
Sold
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Property Image
SOLD

David Patel Acquires Retail Property At 840 Old Country Road For $8 Million With Brokers Gary Pezza And Benjamin Zone

840 Old Country Road

See Similar Deals
Retail11,000 SF
Sold
Gary Pezza
Benjamin Zone
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$581
Total Square Footage:11000 SF
Transaction Type:Sale

The retail asset located at 840 Old Country Road in Riverhead has been sold for $8,000,000. The property encompasses 11,000 square feet, resulting in a price per square foot of $727.

Summary of transation details:

  • Property Type: Retail
  • Transaction Amount: $8,000,000
  • Address: 840 Old Country Road
  • Market: Riverhead
  • Size: 11,000 SF
  • Price Per Square Foot: $727
  • Buyer: David Patel
  • Seller: Peter Moutafis
  • Buyer's Representative: Benjamin Zone - Meridian Capital Group
  • Seller's Representative: Gary Pezza - DGNY Commercial

The transaction included two key representatives: Benjamin Zone, who represented the buyer, David Patel, and Gary Pezza, who represented the seller, Peter Moutafis, ensuring a professional exchange during the sale process.

Players

Gary Pezza
DGNY Commercial
Gary Pezza
6 deals$25M volume(516) 972-4700
BROKER
Benjamin Zone
Meridian Capital Group
Benjamin Zone
9 deals$15.1M volume(917) 583-2881
BROKER

Details

SOLD
IMAGE: Gary Pezza & Benjamin Zone DATE: 2/28/2026 ADDRESS: 840 Old Country Road MARKET: Riverhead ASSET TYPE: Retail BUYER: David Patel SELLER: Peter Moutafis BUYER'S REP: Benjamin Zone (@BenwZone) - Meridian Capital Group (@Meridian.Capital.Group) SELLER'S REP: Gary Pezza - DGNY Commercial (@DGNYCommercial) SALE PRICE: $8,000,000 SF: 11,000 ~ PPSF: $727

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$341,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$22,737.86
Cash-on-Cash Return-1.27%
Monthly Debt Service$30,339.27
Annual Debt Service$364,071.18