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403 Myrtle Avenue

The Stevens Family Sells Mixed-Use Property At 403 Myrtle Avenue For $4.675M
SOLDMixed-use

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:

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

Andrew Bronsteen

Marcus & Millichap

Broker

$271M

vol

65 deals

Broker
Shaun Riney
Verified Badge

Shaun Riney

Marcus & Millichap

Broker

$1.8B

vol

358 deals

Broker

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