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322 Myrtle Avenue

Lawrence Chan Acquires Mixed-Use Properties At 322 And 324 Myrtle Avenue For $5.15M
SOLDMixed-use

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

Matthew Cosentino

Terra CRG

Broker

$319M

vol

81 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

3.08%

Cash-on-Cash

-0.88%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93