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:
- Rani Bendary - [Agency Name]
- Andreas Efthymiou - [Agency Name]
- Stephen R. Preuss - [Agency Name]
- Adam Hajibai - [Agency Name]
Players
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