Wai Hing Yip Acquires Mixed-Use Property On Myrtle Avenue In Ridgewood Queens For $1.27M
61-18 Myrtle Ave, Flushing, NY 11385, USA
$1,269,999
$317/SF
Building Size
4,000 SF
Asset Type
Mixed-use
Closing
Oct 23, 2019
About this deal
AI
A mixed-use property located at 6118 Myrtle Avenue in Ridgewood Queens has been sold in a closed transaction. The property consists of 3 units, including 2 apartments and 1 store. The store was delivered vacant, offering potential for immediate occupancy or rental for a new business venture. The property was initially listed for an asking price of $1,400,000 and ultimately sold for $1,269,999. With a total square footage of 4,000, the price per square foot equates to $317.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $1,269,999
- Address: 6118 Myrtle Avenue, Ridgewood Queens
- Market: Ridgewood Queens
- Units: 3
- Price per Square Foot: $317
The deal was brokered by Daniel Barcelowsky, who represented the seller, David Shorenstein, and facilitated the transaction with the buyer, Wai Hing Yip. This successful deal showcases the expertise of Daniel Barcelowsky and highlights his ability to secure favorable outcomes for his clients.
Players
Glendale 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
12.49%
Cash-on-Cash
-3.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93