Steven Kachanian's Klosed Properties Acquires Brooklyn Retail Condo For $2.5M
SOLD
$2,500,000
New York
See Similar Deals6,046 SF
Sold 07/30/2019
SOLD
Steven Kachanian's Klosed Properties Acquires Brooklyn Retail Condo For $2.5M
541 Myrtle Ave, Brooklyn, NY 11205, USA
See Similar Deals6,046 SF
Sold 07/30/2019
Summary
NEW YORK
Price Per Square Foot:$413
Total Square Footage:6,046 SF
Transaction Type:Sale
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.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$133,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,881.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,851.28
Annual Debt Service$142,215.31
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