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347 Myrtle Avenue

Abe Garbo Acquires Mixed-use Property At 347 Myrtle Avenue Brooklyn For $2,000,026
UNDERCONTRACMixed-use

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:

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

Joshua Malekan

Bridge Advisory Group

Broker

$145.1M

vol

42 deals

Broker

Abe Garbo

Buyer

$45.9M

vol

8 deals

Buyer

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