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585 Myrtle Avenue

Abe Garbo & Amit Ben-Harosh Acquire Mixed-Use Property From Nick Meluzio For $1.8M
SOLDMixed-use

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

Remi Norris

Terra CRG

Broker

$138.4M

vol

45 deals

Broker
Terra CRG
Terra CRGBrokerage

Abe Garbo

Buyer

$44.3M

vol

6 deals

Buyer

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