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Edward Barbaro Sells Mixed-Use Property In Clinton Hill, Brooklyn For $2.1M

Property Image
SOLD
$2,100,000
Luke Sproviero
Gabriel Kates
+ 3

New York

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Mixed-use3,800 SF
Sold 05/12/2022
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Property Image
SOLD

Edward Barbaro Sells Mixed-Use Property In Clinton Hill, Brooklyn For $2.1M

441 Myrtle Avenue, Brooklyn, New York 11205, United States

See Similar Deals
Mixed-use3,800 SF
Sold 05/12/2022
Luke Sproviero
Gabriel Kates
+ 3
Contact now

Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$552
Total Square Footage:3,800 SF
Transaction Type:Sale

Located at 441 Myrtle Ave in Clinton Hill, Brooklyn, this mixed-use property was recently sold in a closed transaction. The property consists of 2 apartments and 2 stores, offering a diverse range of potential uses. The transaction took place on May 12, 2022, and was facilitated by Derek Bestreich, Luke Sproviero, Adam Lobel, Toby Waring, Daniel Shawah, and Gabriel Kates from Bestreich Realty Group (BRG).

Summary of transaction details

  • Property Type: Mixed-use
  • Sale Price: $2,100,000
  • Units: 4
  • Price per Unit: $525,000
  • Square Footage: 3,300
  • Price per Square Foot: $636

The sale of this property showcases the expertise and negotiation skills of the broker team from Bestreich Realty Group. Led by Derek Bestreich, Luke Sproviero, Adam Lobel, Toby Waring, Daniel Shawah, and Gabriel Kates, they successfully facilitated the transaction between the seller, Edward Barbaro, and the buyer, ensuring a smooth process for both parties involved. The sale of this mixed-use property demonstrates the potential and value it holds in the vibrant Clinton Hill market.

Players

Adam Lobel
137 deals$583.5M volume(314) 920-8639
BROKER

Derek Bestreich
Investment Property Realty Group (IPRG)
312 deals$1.1B volume(718) 360-8802
BROKER

Daniel Shawah
Baldwin Pearson & Co
33 deals$103.9M volume(203) 531-6348
BROKER

Luke Sproviero
Investment Property Realty Group (IPRG)
222 deals$848.7M volume
BROKER

Toby Waring
Investment Property Realty Group (IPRG)
89 deals$348.6M volume
BROKER

Gabriel Kates
Block Real Estate Group
59 deals$158.4M volume(508) 365-8278
BROKER

S3 Capital
LENDER

Details

SOLD
IMAGE: Derek Bestreich, Luke Sproviero & Gabriel Kates DATE: 05/12/2022 ADDRESS: 441 Myrtle Ave. MARKET: Clinton Hill, Brooklyn ASSET TYPE: Mixed-use SELLER: Edward Barbaro BROKERS: Derek Bestreich, Luke Sproviero (@DaLucien), Adam Lobel (@AdamLobelRealEstate), Toby Waring (@BklynBricks), Daniel Shawah & Gabriel Kates (@GabeKates) - Bestreich Realty Group (BRG) (@BRG_CRE) SALE PRICE: $2,100,000 UNITS: 4 ~ PPU: $525,000 SF: 3,300 ~ PPSF: $636 NOTE FROM @BRG_CRE: 2 Apts & 2 Stores

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

$112,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$7,460.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,955.07
Annual Debt Service$119,460.86