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2735 Madison Street, Ridgew...

Tina Shao Acquires Mixed-Use Property In Two Bridges For $7.8M
SOLDMixed-use

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

Mei Ling Wong

Cushman & Wakefield

Broker

$47.9M

vol

7 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

2.03%

Cash-on-Cash

-0.58%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93