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390 Seneca Avenue, Ridgewoo...

Eden Ashourzadeh Acquires Mixed-Use Property In Ridgewood For $1.8M
SOLDMixed-use

Eden Ashourzadeh Acquires Mixed-Use Property In Ridgewood For $1.8M

390 Seneca Avenue, Ridgewood, NY 11385, USA

$1,800,000

$300/SF

Building Size

6,000 SF

Asset Type

Mixed-use

Closing

Jun 25, 2020

AI

The mixed-use property located at 390 Seneca Ave in Ridgewood was recently sold for a sale price of $1,800,000. The building offers a total of 6,000 square feet of space, resulting in a price per square foot of $300. The transaction took place on 06/25/2021. The buyer of the property was Eden Ashourzadeh, while the seller was Lek Lotongkhun. The deal was facilitated by brokers Marcel Fridman and Bart Zimmerman from Barcel Group. The property is classified as tax class 2A.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $1,800,000
  • Date: 06/25/2021
  • Address: 390 Seneca Ave
  • Market: Ridgewood
  • Buyer: Eden Ashourzadeh
  • Seller: Lek Lotongkhun
  • Brokers: Marcel Fridman & Bart Zimmerman - Barcel Group
  • Square Footage: 6,000
  • Price per Square Foot: $300

The building was delivered fully vacant at the time of closing, presenting opportunities for the new owner to utilize the space as desired.

Players

Bart Zimmermann

Barcel Group

Broker

$20.4M

vol

6 deals

Broker

Eden Ashourzadeh

Buyer

$116.7M

vol

37 deals

Buyer

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

8.81%

Cash-on-Cash

-2.52%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93