Five Point arranged the sale for $1,875,000 of a triple-net leased Outback Steakhouse at 25 Crystal Run Crossing in Middletown, NY. Ten years remain on the lease. The sale, which closed on Aug. 29, provided a cap rate of 4.8%. John Safe’s 33 Crystal Run Crossing LLC was the seller. The buyer was Michael Schmidt’s Patoma Real Estate. Jerry Mancini of Five Point represented both the seller and the buyer.
Updated on October 29, 2019 at 3:08 pm