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454 Myrtle Ave, Brooklyn, N...

Caliente Cab Co. Acquires Mixed Use Property In Clinton Hill For $2.6M
SOLDMixed-use

Caliente Cab Co. Acquires Mixed Use Property In Clinton Hill For $2.6M

454 Myrtle Ave, Brooklyn, NY 11205, USA

$2,600,000

$53/SF

Building Size

48,820 SF

Asset Type

Mixed-use

Closing

May 20, 2019

AI

Located at 454 Myrtle Avenue in Clinton Hill, this mixed-use property was recently sold for $2,600,000. The property spans 4,882 square feet, resulting in a price per square foot of $533. The transaction took place on May 21, 2019.

Summary of transation details

  • Property Type: Mixed Use
  • Transaction Amount: $2,600,000
  • Square Footage: 4,882
  • Price per Square Foot: $533
  • Address: 454 Myrtle Avenue
  • Market: Clinton Hill

The seller of the property was Silvershore, represented by David Shorenstein and Jason Silverstein. The buyer, Howard Berke, represented Caliente Cab Co. The deal was facilitated by @brg_cre, Derek Bestreich, Adam Lobel, and Luke Sproviero.

Players

Adam Lobel

Investment Property Realty Group (IPRG)

Broker

$602.2M

vol

141 deals

Broker

Howard Berke

Buyer

$8.7M

vol

3 deals

Buyer
David Shorenstein

David Shorenstein

Silvershore

Seller

$187.3M

vol

60 deals

Seller

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

6.10%

Cash-on-Cash

-1.74%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93