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A&H Acquisitions Corp. Acquires Retail Building On Myrtle Avenue, Ridgewood, Queens For $4.9M

Property Image
SOLD
$4,900,000
Scott Plasky
Alex Adjmi
+ 1

New York

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Retail18,658 SF
Sold 06/15/2020
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Property Image
SOLD

A&H Acquisitions Corp. Acquires Retail Building On Myrtle Avenue, Ridgewood, Queens For $4.9M

23 Myrtle Avenue, Ridgewood, NY, USA

See Similar Deals
Retail18,658 SF
Sold 06/15/2020
Scott Plasky
Alex Adjmi
+ 1
Contact now

Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$262
Total Square Footage:18,658 SF
Transaction Type:Sale

A retail property located at 57-23 Myrtle Avenue in Ridgewood, Queens has been sold for a price of $4,900,000. The property, with a total square footage of 18,658, was bought by Alex Adjmi of A&H Acquisitions Corp. The seller, Cedot Realty Corp., was represented by Irwin Levy. The transaction was facilitated by brokers Scott Plasky and Billy Stephan of an undisclosed agency. The building was delivered vacant at closing.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $4,900,000
  • Address: 57-23 Myrtle Avenue, Ridgewood, Queens
  • Buyer: Alex Adjmi - A&H Acquisitions Corp.
  • Seller: Irwin Levy - Cedot Realty Corp.
  • Brokers: Scott Plasky & Billy Stephan
  • Total Square Footage: 18,658

The sale of this retail property signifies a significant transaction in the Ridgewood, Queens market. The involvement of key individuals and companies such as Alex Adjmi, Irwin Levy, and the brokers Scott Plasky and Billy Stephan highlights the importance and expertise of these professionals in the real estate industry.

Players

William "Billy" Stephan
39 deals$236.5M volume
BROKER

Scott Plasky
Marcus & Millichap
78 deals$406.4M volume(212) 430-5229
BROKER

Alex Adjmi
A&H Acquisitions Corp.
19 deals$100.6M volume
BUYER

Details

SOLD
IMAGE: Scott Plasky & Billy Stephan DATE: 06/15/2021 ADDRESS: 57-23 Myrtle Avenue MARKET: Ridgewood, Queens ASSET TYPE: Retail BUYER: Alex Adjmi - A&H Acquisitions Corp. SELLER: Irwin Levy - Cedot Realty Corp. BROKERS: Scott Plasky & Billy Stephan SALE PRICE: $4,900,000 BSF: 39,654 ~ PPBSF: $123 SF: 18,658 ~ PPSF: $262 NOTE: Retail building delivered vacant at closing.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$17,408.68
Cash-on-Cash Return-1.27%
Monthly Debt Service$23,228.50
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