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David Hedvat Acquires Ridgewood Retail Property From Paul Conway For $3.65M

Property Image
SOLD
$3,650,000
Kevin Schmitz
Kevin Louie
Daniel Barcelowsky
+ 3

National

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Sold 12/22/2022
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Property Image
SOLD

David Hedvat Acquires Ridgewood Retail Property From Paul Conway For $3.65M

Sold 12/22/2022
Kevin Schmitz
Kevin Louie
Daniel Barcelowsky
+ 3
the dealplayerscompscontact
Contact now

Summary

Transaction Type:Sale

Players

Kevin Louie
Ripco
Kevin Louie
125 deals$1B volume(718) 663-2642
BROKER
Andreas Efthymiou
Ripco
Andreas Efthymiou
128 deals$1.1B volume
BROKER
Daniel Barcelowsky
Evergreen Realty & Investments
Daniel Barcelowsky
52 deals$83.9M volume
BROKER
Stephen R. Preuss Sr.
Ripco
Stephen R. Preuss Sr.
258 deals$2B volume(718) 663-2639
BROKER
Kevin Schmitz
Ripco
Kevin Schmitz
112 deals$846.3M volume
BROKER
PC
Paul Conway
5 deals$16.2M volume
SELLER

Details

SOLD
IMAGE: Stephen R. Preuss Sr., Andreas Efthymiou, Kevin Schmitz & Kevin Louie DATE: 12/22/2022 ADDRESS: 70-01 Forest Avenue MARKET: Ridgewood, Queens ASSET TYPE: Retail BUYER: David Hedvat SELLER: Paul Conway BROKERS: Stephen R. Preuss Sr. (@RipcoInvestmentSales), Andreas Efthymiou (@Andreas.e_Investment_Sales), Kevin Schmitz (@Kevin.Schmit_CRE) - Ripco, Kevin Louie (Kevin.Louie_Investment_Sales) - Ripco SALE PRICE: $3,650,000 SF: 15,848 ~ PPSF: $230 .

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$194,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$12,967.69
Cash-on-Cash Return-1.27%
Monthly Debt Service$17,302.86
Annual Debt Service$207,634.35