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
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