Zef Gine Acquires Mixed-Use Property In Ridgewood, Queens For $2M
60-01 70th Ave, Ridgewood, Queens County, NY, USA
$2,000,000
$416/SF
Building Size
4,800 SF
Asset Type
Mixed-use
Closing
Aug 19, 2018
About this deal
AI
A mixed-use property located at 60-01 70th Ave in Ridgewood, Queens, New York has been sold for a record-breaking price of $2,000,000. The property spans over 4,800 square feet, resulting in a price per square foot of $416. This sale marks a significant milestone for a property of this size in Ridgewood.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $2,000,000
- Square Feet: 4,800
- Price per Square Foot: $416
- Address: 60-01 70th Ave, Ridgewood, Queens, New York
- Market: Ridgewood, Queens
Zef Gine has purchased the property from Robert Leonard. The deal was facilitated by broker Daniel Barcelowsky from Evergreen Realty & Investments. The involvement of Daniel Barcelowsky in this sale highlights the significance of having a skilled broker in achieving a successful transaction.
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
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93