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408 Myrtle Avenue

Kalman Sinay Acquires Mixed-Use Property On 408 Myrtle Avenue, NYC For $2.4M
SOLDMixed-use

Kalman Sinay Acquires Mixed-Use Property On 408 Myrtle Avenue, NYC For $2.4M

408 Myrtle Avenue

$2,452,000

$649/SF

Building Size

3,775 SF

Asset Type

Mixed-use

Closing

Mar 1, 2023

AI

The mixed-use property located at 408 Myrtle Avenue in New York City has been sold for a total of $2,452,000. Spanning across 3,775 square feet, the property was purchased by Kalman Sinay from the seller Shlomo Khodara.

Summary of transaction details

The transaction was facilitated by Rosewood Realty Group, with Alex Fuchs, Ben Khakshoor, Aaron Jungreis, and Eli Shayestehpour representing the buyer. On the seller's side, Joshua Malekan and Jonathan Setareh from Venture Capital Properties acted as the seller's representatives. The deal signifies a significant investment in the mixed-use property market in New York City.

Players

Aaron Jungreis

Rosewood Realty Group

Broker

$4.3B

vol

205 deals

Broker
Venture Capital Properties
Venture Capital PropertiesBrokerage

West Islip 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