Updated Jan 23, 2025
Jameson Brown Sells Mixed-Use Property In Newport For $3.8M With Leeds Mitchell IV And Stephen Girolamo
372 Thames Street
$3,800,000
$313/SF
Building Size
12,132 SF
Asset Type
Mixed-use
Closing
Jan 16, 2025
About this deal
AI
The property asset involved in this transaction is a mixed-use building located at 372 Thames Street in Newport, RI. The sale price for this property was $3,800,000, with a total square footage of 12,132, which equates to a per square foot price of approximately $313.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $3,800,000
- Address: 372 Thames Street
- Market: Newport, RI
- Square Footage: 12,132
- Price Per Square Foot: $313
- Seller: Jameson Brown
- Buyer's Representative: Stephen Girolamo - Horvath & Tremblay
- Seller's Representative: Leeds Mitchell IV
This transaction was facilitated by Stephen Girolamo, who represented the buyer, while Leeds Mitchell IV represented the seller. Their involvement underscores the collaborative effort between the respective agencies in executing this closed property transaction.
Players
Newport Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.17%
Cash-on-Cash
-1.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93