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763 Seneca Ave, Ridgewood, ...

Klosed Properties Acquires Mixed Use Property In Ridgewood, Queens For $1.2M
SOLDMixed-use

Klosed Properties Acquires Mixed Use Property In Ridgewood, Queens For $1.2M

763 Seneca Ave, Ridgewood, NY 11385, USA

$1,200,000

$259/SF

Building Size

4,620 SF

Asset Type

Mixed-use

Closing

Aug 20, 2020

AI

The mixed-use property located at 763 Seneca Avenue in Ridgewood, Queens, has been sold for $1,200,000. This property comprises of 5 residential units and 2 commercial units, with a combined square footage of approximately 1,500 square feet. The total area of the property is 4,620 square feet, resulting in a price per square foot of $259. The property is zoned R6B and C1-4, allowing for mixed-use development.

Summary of transaction details

  • Property Type: Mixed Use
  • Transaction Amount: $1,200,000
  • Square Footage: 4,620 SF
  • Price per Square Foot: $259
  • Units: 5 Residential & 2 Commercial (approx. 1,500 SF)
  • Zoning: R6B, C1-4

The buyers of this property are Steven Kachanian, Jacob Namdar, and the company @KlosedProperties.

Brokers:

Players

Andreas Efthymiou

Ripco

Broker

$1.1B

vol

128 deals

Broker

New York 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

13.22%

Cash-on-Cash

-3.78%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93