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
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