Strulovitch Family Acquires Mixed-Use Property In Brooklyn For $7.35M
SOLD
$7,350,000
+ 3
National
See Similar DealsMixed-use30,303 SF
Sold 02/24/2023
SOLD
Strulovitch Family Acquires Mixed-Use Property In Brooklyn For $7.35M
1355-1357 60th Street, 5902-5912 & 5614 New Utrecht Avenue
See Similar DealsMixed-use30,303 SF
Sold 02/24/2023
+ 3
Summary
Asset Type:Mixed-use
Price Per Square Foot:$242
Total Square Footage:30,303 SF
Transaction Type:Sale
A mixed-use property located at 1355-1357 60th Street, 5902-5912 & 5614 New Utrecht Avenue in Brooklyn has been sold in a recent transaction. The property spans approximately 30,303 square feet with a price per square foot of $243. The sale price for this transaction amounted to $7,350,000.
Summary of transaction details:
- Property Type: Mixed-Use
- Transaction Amount: $7,350,000
- Address: 1355-1357 60th Street, 5902-5912 & 5614 New Utrecht Avenue
- Market: Brooklyn
- Square Footage: 30,303
- Price per Square Foot: $243
The buyers of this property are the Strulovitch Family, while the sellers are the Montag Family. The transaction was facilitated by Amit Doshi, Shallini Mehra, David Ravvin, Eliezer Finkel, and Rael Gervis from Meridian Capital Group.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$391,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$26,113.00
Cash-on-Cash Return-1.27%
Monthly Debt Service$34,842.75
Annual Debt Service$418,113.00
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