Tina Shao Acquires Mixed-Use Property In Two Bridges For $7.8M
2735 Madison Street, Ridgewood, NY, 11385, USA
$7,800,000
$356/SF
Building Size
21,901 SF
Asset Type
Mixed-use
Closing
Jan 23, 2019
AI
The mixed-use property located at 27-35 Madison St. in the Two Bridges market has been sold for $7.8 million. The property spans 21,901 square feet, resulting in a price per square foot of $356. The sale took place on January 24, 2019.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $7.8M
- Address: 27-35 Madison St.
- Market: Two Bridges
- Square Feet: 21,901
- Price per Square Foot: $356
Linda Vanella was the seller of the property, while Tina Shao was the buyer. The sale was facilitated by Eric Roth, Robert Shapiro, Michael DeCheser, and Mei Ling Wong from CushWake.
It is worth noting that the property was initially listed on the market in December 2017 with an asking price of $12.5 million.
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
2.03%
Cash-on-Cash
-0.58%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93