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441 Myrtle Avenue, Brooklyn...

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

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

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

$2,100,000

$552/SF

Building Size

3,800 SF

Asset Type

Mixed-use

Closing

May 11, 2022

AI

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

Investment Property Realty Group (IPRG)

Broker

$602.2M

vol

141 deals

Broker
Gabriel Kates
Verified Badge

Gabriel Kates

Block Real Estate Group

Broker

$158.4M

vol

59 deals

Broker
S3 Capital
S3 CapitalLender

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

7.55%

Cash-on-Cash

-2.16%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93