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67-01 Forest Avenue

The Jacobs Family Acquires Mixed-Use Property In Ridgewood, Queens For $1M
SOLDMixed-use

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.

Players

Kevin Darouvar

Dusk Group

Broker

$31.7M

vol

12 deals

Broker

Afshin Gholam

Seller

$3.4M

vol

3 deals

Seller

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