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Kalman Sinay Acquires Mixed-Use Property In Clinton Hill, Brooklyn For $2.45M

Property Image
SOLD
$2,452,000
Jonathan Setareh
Eli Shayestehpour
+ 1

New York

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Mixed-use3,775 SF
Sold 02/27/2023
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Property Image
SOLD

Kalman Sinay Acquires Mixed-Use Property In Clinton Hill, Brooklyn For $2.45M

408 Myrtle Ave

See Similar Deals
Mixed-use3,775 SF
Sold 02/27/2023
Jonathan Setareh
Eli Shayestehpour
+ 1
Contact now

Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$649
Total Square Footage:3,775 SF
Transaction Type:Sale

Located at 408 Myrtle Ave in Clinton Hill, Brooklyn, this mixed-use property was recently sold in a closed transaction. The property spans 3,775 square feet and was sold for a total price of $2,452,000, resulting in a price per square foot of $650. The transaction took place on 02/27/2023.

Summary of transaction details:

The buyer, Kalman Sinay, was represented by Eli Shayestehpour from Rosewood Realty Group. On the other hand, the seller, Shlomo Khodara, was represented by Joshua Malekan and Jonathan Setareh from Venture Capital Properties. The seller had specifically requested a buyer who could proceed to closing with an all-cash offer.

If you have any similar properties available for sale, purchase, or evaluation, please contact the respective representatives:

Players

Joshua Malekan
36 deals$130.7M volume
BROKER

Jonathan Setareh
SP Capital Group
1 deal$2.5M volume(917) 744-3374
BROKER

Eli Shayestehpour
Rosewood Realty Group
13 deals$42.3M volume(212) 419-8168
BROKER

Shlomo Khoudari
Elion Partners
14 deals$275.4M volume(718) 576-1118
BROKER

Details

SOLD
IMAGE: Eli Shayestehpour, Joshua Malekan & Jonathan Setareh DATE: 02/27/2023 ADDRESS: 408 Myrtle Ave MARKET: Clinton Hill, Brooklyn ASSET TYPE: Mixed-use BUYER: Kalman Sinay SELLER: Shlomo Khodara BUYER'S REP: Eli Shayestehpour (@EliShayestehpour) - Rosewood Realty Group (@RosewoodRG) SELLER'S REP: Joshua Malekan & Jonathan Setareh (@JonnySetareh ) - Venture Capital Properties (@VCPRE) SALE PRICE: $2,452,000 SF: 3,775 ~ PPSF: $650 NOTE FROM BROKER: Seller requested a buyer capable of going straight to closing, all cash. Please reach out with any similar assets, either to buy, sell, or get an evaluation. Joshua Malekan: (516) 761-4777 Email: [email protected] Jonathan Setareh: (917) 744-3374 Email: [email protected] Eli Shayestehpour: (516) 967-0490 Email: [email protected]

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$130,773.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$8,711.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,623.73
Annual Debt Service$139,484.77