Dr. Andre Saad Acquires Glendale Office Building On Myrtle Ave. For $2.25M
SOLD
$2,250,000
New York
See Similar DealsOffice6,496 SF
Sold 03/01/2021
SOLD
Dr. Andre Saad Acquires Glendale Office Building On Myrtle Ave. For $2.25M
73-09 Myrtle Ave, Glendale, NY, USA
See Similar DealsOffice6,496 SF
Sold 03/01/2021
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$346
Total Square Footage:6,496 SF
Transaction Type:Sale
The property involved in this transaction is an office located at 73-09 Myrtle Ave in Glendale. The property has a zoning classification of R5D and C1-3. It was sold on 03/01/2021.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $2,250,000
- Address: 73-09 Myrtle Ave
- Market: Glendale
- Asset Type: Office
- Zoning: R5D, C1-3
The buyer in this transaction is Dr. Andre Saad. The buyer was represented by Michael Ventre from Windsor Commercial Real Estate. The seller was represented by Tom Bouklis from The Bouklis Group.
The asking price for the property was $2,500,000. The building has a total gross square footage of 9,414, resulting in a price per square foot of $239. The usable square footage is 6,496, and the price per square foot comes out to be $346. The capitalization rate for the transaction is 4.6%.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$120,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,993.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,666.15
Annual Debt Service$127,993.77
Is there something missing? Send suggestions