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20-01 Palmetto Street

Mark Abdelmessih Of Dusk Group Represents Seller, Scott Torres, In $2.2M Mixed-Use Sale On Palmetto Street, Ridgewood, Queens
SOLDMixed-use

Mark Abdelmessih Of Dusk Group Represents Seller, Scott Torres, In $2.2M Mixed-Use Sale On Palmetto Street, Ridgewood, Queens

20-01 Palmetto Street

$2,225,000

$395/SF

Building Size

5,625 SF

Asset Type

Mixed-use

Closing

Nov 1, 2022

AI

Located in Ridgewood, Queens, the mixed-use property at 20-01 Palmetto Street has been sold in a closed transaction. The property features retail space as well as residential units, making it a versatile investment opportunity.

Summary of transaction details

  • Property Type: Mixed-Use
  • Transaction Amount: $2,225,000
  • Square Footage: 5,625
  • Price per Square Foot: $396
  • Market: Ridgewood, Queens

The seller of the property was Scott Torres. The transaction was facilitated by Mark Abdelmessih of Dusk Group, who represented the seller in the deal.

This transaction showcases the collaboration between the seller, Scott Torres, and broker Mark Abdelmessih of Dusk Group. The agreement resulted in the successful sale of the mixed-use property at 20-01 Palmetto Street in Ridgewood, Queens.

Players

Mark Abdelmessih

Dusk Group

Broker

$4.5M

vol

3 deals

Broker

New York Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

7.13%

Cash-on-Cash

-2.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93