Ryan Mehra Purchases Garage In Ditmars Steinway Queens For $7.53 Million From Michael Okon
18 20 Steinway Street
$7,525,000
$376/SF
Building Size
20,000 SF
Asset Type
Garage
Closing
Aug 15, 2025
AI
A garage located at 18-20 Steinway Street in Ditmars-Steinway, Queens, was sold for $7,525,000. The property encompasses 20,000 square feet, which amounts to approximately $376 per square foot.
Summary of transation details:
- Property Type: Garage
- Transaction Amount: $7,525,000
- Address: 18-20 Steinway Street
- Market: Ditmars - Steinway, Queens
- Buyer: Ryan Mehra
- Seller: Michael Okon
- Square Footage: 20,000
- Price Per Square Foot: $376
Ryan Mehra was the buyer in this transaction, while the seller was Michael Okon. This closed transaction reflects the ongoing activity within the garage property market in the region.
Players
Astoria Garage Market Snapshot
Boundary boundary · Garage · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.11%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93