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
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