Bing Wen Acquires Mixed-Use Property In Ridgewood For $1.51M
59-30 Myrtle Avenue, Queens, New York 11385, United States
$1,510,000
$457/SF
Building Size
3,300 SF
Asset Type
Mixed-use
Closing
Apr 14, 2022
About this deal
AI
Located in Ridgewood, the mixed-use property at 59-30 Myrtle Ave has been sold for a price of $1,510,000. Spanning across 3,300 square feet, the property offers a diverse range of uses.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $1,510,000
- Date: 04/15/2022
- Address: 59-30 Myrtle Ave
- Market: Ridgewood
The sale involved buyer Bing Wen and seller Jon Lotrean. The transaction was facilitated by Daniel Barcelowsky from EVRG. With a price per square foot of $457, this sale offers a valuable investment opportunity in the Ridgewood market.
New York 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
10.51%
Cash-on-Cash
-3.00%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93