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
6,000 SF
Asset Type
Mixed-use
Closing
Dec 10, 2024
About this deal
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:
- Property Type: Mixed-use
- Transaction Amount: $2,320,000
- Address: 114 Macon Street & 208-03 Jamaica Avenue
- Market: Brooklyn & Hollis
- Square Footage: 6,000
- Price Per Square Foot: $386
- Buyer: Matt Yazdan
- Seller: Leon Miles & Austin Idehen
- Buyer's Representative: Daniel Sharga - Meridian Capital Group
- Seller's Representative: Marc Yaverbaum - MYC & Associates
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
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