Myrtle Cy Acquires Retail Parking Garage On Myrtle Avenue In Downtown Brooklyn For $2.65M
SOLD
$2,650,000
New York
See Similar DealsRetail22,000 SF
Sold 07/31/2023
SOLD
Myrtle Cy Acquires Retail Parking Garage On Myrtle Avenue In Downtown Brooklyn For $2.65M
150 Myrtle Ave Brooklyn, NY 11201, USA
See Similar DealsRetail22,000 SF
Sold 07/31/2023
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$120
Total Square Footage:22,000 SF
Transaction Type:Sale
A retail parking garage located at 150 Myrtle Avenue in Downtown Brooklyn has been sold for $2,650,000. The property spans 22,000 square feet, resulting in a price per square foot of $120. The transaction took place between the buyer, Myrtle Cy, and the seller, JBS Realty.
Summary of transaction details
- Property Type: Retail (Parking Garage)
- Transaction Amount: $2,650,000
- Address: 150 Myrtle Avenue, Downtown Brooklyn
- Market: Downtown Brooklyn
- Buyer: Myrtle Cy
- Seller: JBS Realty
The deal was facilitated by Brian Whelan and Alix Curtin of B6 Real Estate Advisors, who acted as the buyer's representatives in the transaction.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$141,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,414.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,562.35
Annual Debt Service$150,748.22
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