Radion Aminov Purchases Mixed-Use Property At 71-02 Myrtle Avenue From The Sprotte Family For $1.775M
71 02 Myrtle Avenue
$1,775,000
$249/SF
Building Size
7,112 SF
Asset Type
Mixed-use
Closing
Feb 20, 2025
AI
71-02 Myrtle Avenue is a mixed-use property located in Ridgewood, NY, featuring a sale price of $1,775,000.00 and encompassing a total square footage of 7,112. The asset is situated on a prime corner lot measuring 40' x 120', which includes a basement and offers substantial curb appeal, positioned adjacent to the popular Glendale Diner on Myrtle Avenue.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $1,775,000.00
- Address: 71-02 Myrtle Avenue
- Market: Ridgewood
- Seller: The Sprotte Family
- Buyer: Radion Aminov
- Seller's Representative: David Caba, DJ Johnston
- Brokers: David Caba
- Asset Size: 7,112 SF
David Caba and DJ Johnston of Matthews Real Estate Investment Services successfully represented the seller in this transaction. The marketing campaign included 17 property tours leading to 11 offers, with the buyer being a local investor from Glendale, represented by Igor Rachmanov of Kassin Sabbagh Realty.
Players
Ridgewood Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
8.94%
Cash-on-Cash
-2.55%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93