A Mixed-use Property Sold For $2.2M In Glendale
SOLD
$2,200,000
New York
See Similar DealsMixed-use12,300 SF
Sold 01/11/2025
SOLD
A Mixed-use Property Sold For $2.2M In Glendale
71 14 Myrtle Avenue & 71 16 Myrtle Avenue
See Similar DealsMixed-use12,300 SF
Sold 01/11/2025
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$178
Total Square Footage:12,300 SF
Transaction Type:Sale
The property involved in this transaction is a mixed-use asset located at 71-14 Myrtle Avenue & 71-16 Myrtle Avenue in Glendale. The sale price was $2,200,000, with a total square footage of 6,150, which translates to a price per square foot of $357.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $2,200,000
- Address: 71-14 Myrtle Avenue & 71-16 Myrtle Avenue
- Market: Glendale
- Square Footage: 6,150
- Price Per Square Foot: $357
- Seller: John Rafferty
- Brokers: Christopher Pesce & Kenneth Hester - Douglas Elliman
The transaction was represented by brokers Christopher Pesce and Kenneth Hester from Douglas Elliman, handling the sale for the seller, John Rafferty. Their roles were pivotal in facilitating this closed property transaction in Glendale.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$117,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,816.15
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,429.12
Annual Debt Service$125,149.47
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