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

Property Image
SOLD
$2,452,000
Alex Fuchs
Ben Khakshoor
+ 3

New York

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Mixed-use3,775 SF
Sold 03/01/2023
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Property Image
SOLD

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

408 Myrtle Avenue

See Similar Deals
Mixed-use3,775 SF
Sold 03/01/2023
Alex Fuchs
Ben Khakshoor
+ 3
Contact now

Summary

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

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
202 deals$4.3B volume(212) 359-9900
BROKER

Ben Khakshoor
Rosewood Realty Group
132 deals$1.9B volume(212) 359-9913
BROKER

Alex Fuchs
Rosewood Realty Group
100 deals$1.9B volume
BROKER

Joshua Malekan
Bridge Advisory Group
36 deals$130.7M volume
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

Venture Capital Properties
BROKERAGE

Details

SOLD
IMAGE: Eli Shayestehpour, Ben Khakshoor, Aaron Jungreis & Alex Fuchs DATE: 03/01/2023 ADDRESS: 408 Myrtle Avenue MARKET: New York City ASSET TYPE: Mixed-Use BUYER: Kalman Sinay SELLER: Shlomo Khodara BUYER'S REP: Alex Fuchs (@AlexFuchs1), Ben Khakshoor (@BenKhak), Aaron Jungreis (@AaronJungreis) & Eli Shayestehpour (@EliShayestehpour) – Rosewood Realty Group (@RosewoodRG) SELLER'S REP: Joshua Malekan & Jonathan Setareh – Venture Capital Properties (@VCPre) SALE PRICE: $2,452,000 SF: 3,775 ~ PPSF: $650

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

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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
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