Dr Himma Gujat Acquires Retail Property In Ridgewood From Peter Moris For $3.5M
SOLD
$3,500,000
New York
See Similar DealsRetail3,500 SF
Sold 09/11/2024
SOLD
Dr Himma Gujat Acquires Retail Property In Ridgewood From Peter Moris For $3.5M
57-09 Myrtle Avenue
See Similar DealsRetail3,500 SF
Sold 09/11/2024
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$1,000
Total Square Footage:3,500 SF
Transaction Type:Sale
The property asset involved in this transaction is a retail space located at 57-09 Myrtle Avenue in the Ridgewood market. The sale price was $3,500,000 for a total square footage of 3,500, resulting in a price per square foot of $1,000.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $3,500,000
- Buyer: Dr Himma Gujat
- Seller: Peter Moris
- Broker Representatives: Frederick Betesh & Richard Babeck - Tri State Commercial Realty
- Square Footage: 3,500
- Price Per Square Foot: $1,000
Frederick Betesh of Tri State Commercial Realty served as the buyer's representative in this deal. Richard Babeck also participated in the transaction representing the same agency. Those interested in engaging in Leasing, Acquisitions, or Disposition transactions can contact Frederick Betesh at [email protected].
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$186,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$12,434.75
Cash-on-Cash Return-1.27%
Monthly Debt Service$16,591.79
Annual Debt Service$199,101.43
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