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Salvation Church Of God Acquires Development Site In Brooklyn From The Vona Family For $20.575M

Property Image
SOLD
$20,575,000
Ethan Stanton
Brendan Maddigan
+ 4

New York

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Development Site117,345 SF
Sold
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Property Image
SOLD

Salvation Church Of God Acquires Development Site In Brooklyn From The Vona Family For $20.575M

6065 Strickland Avenue

See Similar Deals
Development Site117,345 SF
Sold
Ethan Stanton
Brendan Maddigan
+ 4
Contact now

Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$175
Total Square Footage:117345 SF
Transaction Type:Sale

The development site located at 6065 Strickland Avenue in Brooklyn has been sold for a price of $20,575,000. The asset encompasses a total of 117,345 square feet, resulting in a price per square foot of $175.

Summary of transaction details:

The brokers involved in the transaction represent the buyer and seller, with JLL representing The Vona Family and the Corcoran Group representing Salvation Church of God in this deal.

Players

Brendan Maddigan
125 deals$4.7B volume(508) 733-8445
BROKER

Ethan Stanton
JLL
132 deals$6.1B volume(516) 790-7718
BROKER

Michael Mazzara
JLL
110 deals$3.9B volume(212) 376-5450
BROKER

 Christopher (Chris) Cavorti
The Corcoran Group
7 deals$50.5M volume(914) 804-7091
BROKER

Joseph Lopresti
JLL
5 deals$60.6M volume(631) 962-7384
BROKER

Kyle Crennan
JLL
2 deals$20.6M volume(631) 962-2896
BROKER

Michael Laurent
The Corcoran Group
1 deal$20.6M volume(347) 596-3461
BROKER

The Corcoran Group
BROKERAGE

JLL
BROKERAGE

Details

SOLD
IMAGE: Michael Mazzara, Ethan Stanton, Brendan Maddigan, Joseph Lopresti, Kyle Crennan, Christopher Cavorti & Michael Laurent DATE: 1/15/2026 ADDRESS: 6065 Strickland Avenue MARKET: Brooklyn ASSET TYPE: Development Site BUYER: Salvation Church of God SELLER: The Vona Family BROKERS: Michael Mazzara (@Mmazz129), Ethan Stanton (@Snipa_Stanton), Brendan Maddigan (@BrendanMaddigan), Joseph Lopresti & Kyle Crennan - JLL (@JLL); Christopher Cavorti & Michael Laurent - The Corcoran Group (@TheCorcoranGroup) SALE PRICE: $20,575,000 BSF: 117,345 ~ PPBSF: $175 SF: 117,345 ~ PPSF: $175

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

$1,097,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$73,098.64
Cash-on-Cash Return-1.27%
Monthly Debt Service$97,536.00
Annual Debt Service$1,170,431.96