The Jacobs Family Acquires Mixed-Use Property In Ridgewood, Queens For $1M
67-01 Forest Avenue
$1,000,000
$306/SF
Building Size
3,264 SF
Asset Type
Mixed-use
Closing
Aug 16, 2022
AI
The mixed-use property located at 67-01 Forest Ave. in Ridgewood, Queens has been sold for $1,000,000. Spanning 3,264 square feet, the property has sold for a price per square foot of $306. The transaction took place on August 16, 2022.
Summary of transation details
- Property Type: Mixed-use
- Transaction Amount: $1,000,000
- Square Footage: 3,264
- Price per Square Foot: $306
- Address: 67-01 Forest Ave.
- Market: Ridgewood, Queens
The buyer of the property is The Jacobs Family, while Afshin Gholam was the seller. The deal was facilitated by brokers Kevin Darouvar, Mark Abdelmessih, and Uriel Setareh.
It is important to note that the building had recently experienced a fire incident and was delivered vacant. For more vacant deals in Queens, you can click the link in the bio of @_m.arxk and set up a time to chat with the brokers. They are dedicated to helping you find your next investment.
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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
15.86%
Cash-on-Cash
-4.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93