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:
- Property Type: Mixed-use
- Transaction Amount: $4,250,000
- Address: 507 Myrtle Avenue
- Market: Clinton Hill
- Square Footage: 3,790
- Price per Square Foot: $1,121
- Seller: Klosed Properties
- Buyer's Representative: Ceasar Salama & Marc Sitt - KSR
- Seller's Representatives: Shaun Riney, Andrew Bronsteen, Jason Farese & Michael Salvatico - Marcus & Millichap
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
Brooklyn 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
3.73%
Cash-on-Cash
-1.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93