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71 02 Myrtle Avenue

Radion Aminov Purchases Mixed-Use Property At 71-02 Myrtle Avenue From The Sprotte Family For $1.775M
SOLDMixed-use

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

DJ Johnston

Matthews

Broker

$493.3M

vol

102 deals

Broker

Ridgewood 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

8.94%

Cash-on-Cash

-2.55%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93