Sajjad Malik Acquires Mixed-use Property On Myrtle Ave. In Ridgewood, Queens For $1.85M
6059 Myrtle Avenue, Ridgewood, Queens, NY 11385, USA
$1,850,000
$486/SF
Building Size
3,800 SF
Asset Type
Mixed-use
Closing
Nov 24, 2021
About this deal
AI
Located at 60-59 Myrtle Ave in Ridgewood, Queens, this mixed-use property recently changed hands in a sale transaction. The property spans approximately 3,800 square feet and was sold for a price of $1,850,000, resulting in a price per square foot of $486.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $1,850,000
- Address: 60-59 Myrtle Ave, Ridgewood, Queens
- Market: Ridgewood, Queens
The buyer of the property is Sajjad Malik. The deal was facilitated by Derek Bestreich, Steve Reynolds, Tom Reynolds, Brian Davila, and Sean Mashihi of Bestreich Realty Group, who acted as the brokers in the transaction.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
Loading comparables…
Deal FAQ
Visit Sean Mashihi 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
8.57%
Cash-on-Cash
-2.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93