Ya Chen Acquires Mixed-Use Building On Myrtle Avenue In Ridgewood For $2.35M
57-34 Myrtle Ave Queens, NY 11385, USA
$2,350,000
$626/SF
Building Size
3,750 SF
Asset Type
Mixed-use
Closing
Apr 17, 2023
About this deal
AI
A three-story mixed-use building located at 57-34 Myrtle Avenue in Ridgewood has been sold for $2,350,000. The property, spanning 3,750 square feet, features a T-Mobile retail space on the ground floor, along with two gut-renovated apartments on the upper floors. The sale was facilitated by Scott Plasky and William Stephan of Marcus & Millichap.
Summary of transaction details
- Property Type: Mixed-Use
- Transaction Amount: $2,350,000
- Address: 57-34 Myrtle Avenue
- Market: Ridgewood
- Bought by: Ya Chen
- Sold by: Nick and Sal Sciortino
- Brokers: Scott Plasky & William Stephan - Marcus & Millichap
- Size: 3,750 square feet
- Sales per Square Foot: $627
Ya Chen has acquired the property at 57-34 Myrtle Avenue in Ridgewood, consisting of a three-story mixed-use building with a T-Mobile retail space on the ground floor and two renovated apartments on the upper floors. The sale, facilitated by Scott Plasky and William Stephan of Marcus & Millichap, was finalized for a price of $2,350,000.
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
6.75%
Cash-on-Cash
-1.93%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93