Wilson Narvaez Purchases Retail Property At 97 Lake Street Newburgh For $2.425M With Richard Guarino As The Broker
97 Lake Street
$2,425,000
$180/SF
Building Size
13,468 SF
Asset Type
Retail
Closing
Oct 10, 2024
AI
The property involved in this transaction is a retail asset located at 97 Lake Street in Newburgh. The sale price of the property was $2,425,000, covering a total area of 13,468 square feet. The price per square foot amounted to $180.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $2,425,000
- Address: 97 Lake Street
- Market: Newburgh
- Square Footage: 13,468
- Price Per Square Foot: $180
- Buyer: Wilson Narvaez
- Broker: Richard Guarino - Friedman-Roth Realty
Richard Guarino represented the buyer in this transaction, and special thanks were extended to Anthony Cornicello Esq. for his significant contributions to the successful closing of the deal.
Newburgh 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
6.54%
Cash-on-Cash
-1.87%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93