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71-04 Fresh Pond Rd, Flushi...

Karen Chazan & Ira Chazan Acquire 5-Unit Mixed-Use Property In Ridgewood For $2.12M
SOLDMixed-use

Karen Chazan & Ira Chazan Acquire 5-Unit Mixed-Use Property In Ridgewood For $2.12M

71-04 Fresh Pond Rd, Flushing, NY 11385, USA

$2,119,000

$55/SF

Building Size

38,000 SF

Asset Type

Mixed-use

Closing

Dec 15, 2019

AI

The mixed-use property located at 7104 Fresh Pond Road in Ridgewood has been sold for a total of $2,119,000. This property spans across 3,800 square feet and was purchased at a rate of $557 per square foot. It consists of 5 units, with each unit being sold at an average price of $423,800.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $2,119,000
  • Address: 7104 Fresh Pond Road
  • Market: Ridgewood
  • Square Footage: 3,800
  • Price per Square Foot: $557
  • Number of Units: 5
  • Price per Unit: $423,800

Casey Schear acted as the seller in this transaction, while Karen Chazan and Ira Chazan were the buyers. The seller was represented by Matt Fotis from Marcus & Millichap, and the buyer was represented by Arianna Halpern from Julia Shildret Real Estate.

Players

Matt Fotis

Marcus & Millichap

Broker

$609.4M

vol

112 deals

Broker

Casey Schear

Seller

$8.7M

vol

3 deals

Seller

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

7.49%

Cash-on-Cash

-2.14%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93