Abe Garbo Acquires Mixed-use Property At 347 Myrtle Avenue Brooklyn For $2,000,026
347 Myrtle Avenue
$2,000,026
$952/SF
Building Size
2,100 SF
Asset Type
Mixed-use
Closing
Jul 25, 2026
AI
The property asset involved in this transaction is a mixed-use building located at 347 Myrtle Avenue in Brooklyn. The property comprises 1 commercial unit and 2 residential units, with a total of 3 units available. The transaction price for the property is $2,000,026, and it spans a square footage of 2,100, resulting in a price per unit of $666,675 and a price per square foot of $952.
Summary of transaction details:
- Property Type: Mixed-use (1 Commercial & 2 Residential)
- Transaction Amount: $2,000,026
- Address: 347 Myrtle Avenue
- Market: Brooklyn
- Units: 3
- Price per Unit: $666,675
- Square Footage: 2,100
- Price per Square Foot: $952
- Buyer: Abe Garbo
- Seller: Rosemarie Iadarola
- Buyer's Representative: Joshua Malekan - Bridge Advisory Group
- Seller's Representative: Matthew Dowling - Bridge Advisory Group
The transaction involved buyer Abe Garbo acquiring the property from seller Rosemarie Iadarola, with both parties represented by Joshua Malekan and Matthew Dowling from Bridge Advisory Group. Note that if there is interest in acquiring similar vacant value-add buildings in the area, further contact is encouraged.
Players
Market Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Undercontract transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93