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Ryan Mehra Purchases Garage In Ditmars Steinway Queens For $7.53 Million From Michael Okon
SOLD
$7,525,000
New York
See Similar DealsGarage20,000 SF
Sold 08/15/2025
SOLD
Ryan Mehra Purchases Garage In Ditmars Steinway Queens For $7.53 Million From Michael Okon
18 20 Steinway Street
See Similar DealsGarage20,000 SF
Sold 08/15/2025
Summary
NEW YORK
Asset Type:Garage
Price Per Square Foot:$376
Total Square Footage:20,000 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$401,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$26,734.74
Cash-on-Cash Return-1.27%
Monthly Debt Service$35,672.34
Annual Debt Service$428,068.07
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