Ling Yan Jiang Acquires Retail Property At 933-939 Richmond Ave In Staten Island For $5.7M
939 Richmond Avenue
$5,700,000
$528/SF
Building Size
10,796 SF
Asset Type
Retail
Closing
Dec 16, 2024
About this deal
AI
The property involved in this transaction is a retail asset located at 933-939 Richmond Ave, Staten Island. It was sold for $5,700,000, encompassing a total square footage of 10,796, which results in a price per square foot of $527.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $5,700,000
- Square Footage: 10,796
- Price per Square Foot: $527
- Buyer: Ling Yan Jiang
- Seller: Master Jhong Kim
- Broker Representatives: Ron Molcho & Maurice Molcho - Molcho Realty Group
Ron Molcho and Maurice Molcho represented the brokers in this transaction, facilitating the deal between the buyer, Ling Yan Jiang, and the seller, Master Jhong Kim. They are affiliated with Molcho Realty Group, a firm recognized for its expertise in real estate transactions.
On the Map
$5,700,000
$528/SF
Retail
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Players
Staten Island 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
2.78%
Cash-on-Cash
-0.80%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93