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408 Myrtle Ave

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

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

408 Myrtle Ave

$2,452,000

$649/SF

Building Size

3,775 SF

Asset Type

Mixed-use

Closing

Feb 27, 2023

AI

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

Bridge Advisory Group

Broker

$137.8M

vol

39 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

6.47%

Cash-on-Cash

-1.85%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93