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150 Myrtle Ave Brooklyn, NY...

Myrtle Cy Acquires Retail Parking Garage On Myrtle Avenue In Downtown Brooklyn For $2.65M
SOLDRetail

Myrtle Cy Acquires Retail Parking Garage On Myrtle Avenue In Downtown Brooklyn For $2.65M

150 Myrtle Ave Brooklyn, NY 11201, USA

$2,650,000

$120/SF

Building Size

22,000 SF

Asset Type

Retail

Closing

Jul 31, 2023

AI

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

Brian Whelan

Ripco

Broker

$137.6M

vol

31 deals

Broker
JR
JBS RealtySeller

Brooklyn Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.99%

Cash-on-Cash

-1.71%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93