The Stevens Family Sells Mixed-Use Property At 403 Myrtle Avenue For $4.675M
403 Myrtle Avenue
$4,675,000
$745/SF
Building Size
6,270 SF
Asset Type
Mixed-use
Closing
May 4, 2025
AI
The mixed-use property located at 403 Myrtle Avenue in Fort Greene has been sold for $4,675,000. The asset consists of 6 units and encompasses a total square footage of 6,270, resulting in a price per unit of $779,167 and a price per square foot of $745.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $4,675,000
- Units: 6
- Square Footage: 6,270
- Price Per Unit: $779,167
- Price Per Square Foot: $745
- Seller: The Stevens Family
- Broker Representatives: Shaun Riney, Andrew Bronsteen, Jason Farese - Marcus & Millichap
- Date of Sale: 5/5/2025
This transaction was facilitated by the brokerage team of Shaun Riney, Andrew Bronsteen, and Jason Farese, representing the seller, The Stevens Family, under Marcus & Millichap. Their collective expertise contributed to the successful conclusion of the sale in the competitive Fort Greene market.
Players
Brooklyn 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
3.39%
Cash-on-Cash
-0.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93