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1355-1357 60th Street, 5902...

Strulovitch Family Acquires Mixed-Use Property In Brooklyn For $7.35M
SOLDMixed-use

Strulovitch Family Acquires Mixed-Use Property In Brooklyn For $7.35M

1355-1357 60th Street, 5902-5912 & 5614 New Utrecht Avenue

$7,350,000

$242/SF

Building Size

30,303 SF

Asset Type

Mixed-use

Closing

Feb 24, 2023

AI

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.

Players

Rael Gervis

Meridian Capital Group

Broker

$1.2B

vol

23 deals

Broker

Strulovitch Family

Buyer

$9.4M

vol

3 deals

Buyer

Market Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.16%

Cash-on-Cash

-0.62%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93