Ya Chen Acquires Ridgewood Mixed-Use Property For $1,830,000 With Buyer's Rep Scott Plasky & William Stephan - Marcus & Millichap
57-22 Myrtle Ave Queens, NY 11385, USA
$1,830,000
$435/SF
Building Size
4,200 SF
Asset Type
Mixed-use
Closing
Apr 17, 2023
About this deal
AI
Located in Ridgewood, the three-story corner mixed-use building at 57-22 Myrtle Avenue has been sold in a recent transaction. The property, which spans 4,200 square feet, offers a mix of residential and commercial units. The sale was facilitated by brokers Scott Plasky and William Stephan from Marcus & Millichap.
Summary of transaction details:
- Property Type: Mixed-Use
- Sale Price: $1,830,000
- Square Footage: 4,200
- Price per Square Foot: $436
- Market: Ridgewood
Ya Chen acquired the property from Nick And Sal Sciortino. The deal involved a vacant building, which was delivered to the buyer at closing. The transaction provides an opportunity for Ya Chen to utilize the property's potential for both residential and commercial purposes.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
Loading comparables…
Deal FAQ
Visit William "Billy" Stephan to view all their deals.
Browse New York mixed use sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
8.67%
Cash-on-Cash
-2.48%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93