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507 Myrtle Avenue

Klosed Properties Sells Mixed-Use Asset At 507 Myrtle Avenue In Clinton Hill For $4.25M
SOLDMixed-use

Klosed Properties Sells Mixed-Use Asset At 507 Myrtle Avenue In Clinton Hill For $4.25M

507 Myrtle Avenue

$4,250,000

$1,121/SF

Building Size

3,790 SF

Asset Type

Mixed-use

Closing

Jun 3, 2025

AI

The mixed-use property located at 507 Myrtle Avenue in the Clinton Hill market was sold for $4,250,000. The property encompasses a total square footage of 3,790, resulting in a price per square foot of $1,121.

Summary of transaction details:

This transaction was represented by Ceasar Salama and Marc Sitt of KSR for the buyer, while the seller was represented by Shaun Riney, Andrew Bronsteen, Jason Farese, and Michael Salvatico from Marcus & Millichap, highlighting the collaboration among these key real estate professionals in this deal.

Players

Marc Sitt

Kassin Sabbagh Realty

Broker

$272.9M

vol

64 deals

Broker
Shaun Riney
Verified Badge

Shaun Riney

Marcus & Millichap

Broker

$1.8B

vol

358 deals

Broker
Klosed Properties
Klosed PropertiesSeller

Brooklyn Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.73%

Cash-on-Cash

-1.07%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93