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
- Property Type: Mixed-Use
- Transaction Amount: $2,452,000
- Address: 408 Myrtle Avenue
- Market: New York City
- Buyer: Kalman Sinay
- Seller: Shlomo Khodara
- Buyer's Representative: Alex Fuchs, Ben Khakshoor, Aaron Jungreis, and Eli Shayestehpour - Rosewood Realty Group
- Seller's Representative: Joshua Malekan and Jonathan Setareh - Venture Capital Properties
- Square Footage: 3,775
- Price Per Square Foot: $650
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
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