Lawrence Chan Acquires Mixed-Use Properties At 322 And 324 Myrtle Avenue For $5.15M
322 Myrtle Avenue & 324 Myrtle Avenue
$5,150,000
$355/SF
Building Size
14,508 SF
Asset Type
Mixed-use
Closing
Jan 17, 2025
AI
This mixed-use property located at 322 Myrtle Avenue & 324 Myrtle Avenue in Brooklyn features a total of 7,254 square feet and comprises 6 units. The transaction was completed with a sale price of $5,150,000, resulting in a price per unit of $858,333 and a price per square foot of $709.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $5,150,000
- Units: 6
- Square Footage: 7,254
- Price Per Unit: $858,333
- Price Per Square Foot: $709
- Buyer: Lawrence Chan
- Seller: Liah Chin & Etienne Paris
- Brokers: Matthew Cosentino & Remi Norris - Terra CRG
The deal involved Lawrence Chan as the buyer and Liah Chin & Etienne Paris as the sellers. The transaction was facilitated by brokers Matthew Cosentino and Remi Norris from Terra CRG, highlighting their role in representing the parties involved in this mixed-use property sale.
Players
Brooklyn Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.08%
Cash-on-Cash
-0.88%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93