Steven Kachanian's Klosed Properties Acquires Brooklyn Retail Condo For $2.5M
541 Myrtle Ave, Brooklyn, NY 11205, USA
$2,500,000
$413/SF
Building Size
6,046 SF
Asset Type
—
Closing
Jul 29, 2019
About this deal
AI
A retail condo located at 541 Myrtle Avenue in Brooklyn has been sold for a price of $2,500,000. The property spans a total of 6,046 square feet and has a price per square foot of $416. The transaction involved the sale of three retail stores.
Summary of transaction details
- Property Type: Retail Condo
- Transaction Amount: $2,500,000
- Address: 541 Myrtle Avenue
- Market: Brooklyn
- Square Footage: 6,046
- Price Per Square Foot: $416
- Number of Retail Stores: 3
Steven Kachanian, representing Klosed Properties, purchased the retail condo from Aaron Schwarzman. The deal was facilitated by Ryan Powers-Tapp, also from Klosed Properties.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.35%
Cash-on-Cash
-1.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93