Abe Garbo & Amit Ben-Harosh Acquire Mixed-Use Property From Nick Meluzio For $1.8M
585 Myrtle Avenue
$1,800,000
$649/SF
Building Size
2,772 SF
Asset Type
Mixed-use
Closing
Oct 5, 2025
AI
The property involved in the transaction is a mixed-use value-add asset located at 585 Myrtle Avenue, Brooklyn. The sale price was $1,800,000, and the property comprises 3 units, with a price per unit of $600,000. It has a total square footage of 2,772, equating to a price per square foot of $649.
Summary of transaction details:
- Property Type: Mixed-Use Value Add
- Transaction Amount: $1,800,000
- Units: 3
- Price Per Unit: $600,000
- Square Footage: 2,772
- Price Per Square Foot: $649
- Buyer: Abe Garbo & Amit Ben-Harosh
- Seller: Nick Meluzio
- Brokers: Andrew Manasia & Remi Norris - Terra CRG
This deal involved the collaboration of brokers Andrew Manasia and Remi Norris representing Terra CRG. They facilitated the transaction between the buyer duo of Abe Garbo and Amit Ben-Harosh, and the seller, Nick Meluzio.
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
8.81%
Cash-on-Cash
-2.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93