Ashkenazy Acquisition Corp. Acquires Ferndale Shopping Center In Larchmont For $35M
1310 W Boston Post Rd, Larchmont, Ny 10538, Usa
$35,000,000
$41/SF
Building Size
839,230 SF
Asset Type
Other
Closing
Nov 17, 2019
About this deal
AI
The Ferndale Shopping Center, located at 1310-1340 Boston Post Road in Larchmont, has been sold in a closed transaction for $35,000,000. The shopping center spans a total area of 83,923 square feet, resulting in a price per square foot of $417. The anchor tenants of the shopping center include CVS Pharmacy and Stop & Shop.
Summary of transaction details:
- Property Type: Shopping Centre
- Transaction Amount: $35,000,000
- Square Footage: 83,923
- Price per Square Foot: $417
- Address: 1310-1340 Boston Post Road, Larchmont
- Market: Larchmont
- Buyer: Ashkenazy Acquisition Corp. (AAC)
- Seller: The Ferndale
- Broker: Andrew J. Merin, David W. Bernhaut, H. Gary Gabriel (Cushman & Wakefield)
Ben Ashkenazy and Daniel Levy of Ashkenazy Acquisition Corp, represented by Cushman & Wakefield's Andrew J. Merin, David W. Bernhaut, and H. Gary Gabriel, have acquired the Ferndale Shopping Center in Larchmont.
Players
Larchmont Other Market Snapshot
Boundary boundary · Other · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.45%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93