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114 Macon Street

Matt Yazdan Purchases Mixed-Use Properties In Brooklyn And Hollis For $2.32M With Daniel Sharga's Representation
SOLDMixed-use

Matt Yazdan Purchases Mixed-Use Properties In Brooklyn And Hollis For $2.32M With Daniel Sharga's Representation

114 Macon Street & 208-03 Jamaica Avenue

$2,320,000

$193/SF

Building Size

12,000 SF

Asset Type

Mixed-use

Closing

Dec 10, 2024

AI

This transaction involves the sale of two mixed-use properties located at 114 Macon Street and 208-03 Jamaica Avenue within the Brooklyn and Hollis markets. The combined sale price for the properties is $2,320,000, with a total square footage of 6,000, equating to a price per square foot of $386.

Summary of transaction details:

The buyer, Matt Yazdan, recently acquired the properties through the representation of Daniel Sharga from Meridian Capital Group. The sellers are Leon Miles and Austin Idehen, represented by Marc Yaverbaum from MYC & Associates. The buyer has noted an interest in seeking additional similar deals in the neighborhoods where these properties are located.

Players

Marc Yaverbaum

MYC & Associates

Broker

$37.6M

vol

2 deals

Broker

Brooklyn 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

6.84%

Cash-on-Cash

-1.95%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93