facebook
Traded Co logo
Submit
Daily limit: 0/10

Beitel Group Acquires Industrial Building On 60th Street, Borough Park For $4M

Property Image
SOLD
$4,000,000

New York

See Similar Deals
Industrial8,000 SF
Sold 05/16/2023
the dealplayerscompscontact
Property Image
SOLD

Beitel Group Acquires Industrial Building On 60th Street, Borough Park For $4M

1547 60th Street Brooklyn, NY 11219

See Similar Deals
Industrial8,000 SF
Sold 05/16/2023
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Industrial
Price Per Square Foot:$500
Total Square Footage:8,000 SF
Transaction Type:Sale

The Beitel Group, represented by Ben Beitel, has acquired an industrial building in Borough Park, Brooklyn. Located at 1547-1555 60th Street, the property boasts 8,000 square feet of built space with an additional 24,036 square feet of air rights. This allows for a total buildable area of 32,048 square feet. The purchase price for this transaction was $4 million.

Summary of transation details

  • Property Type: Industrial
  • Transaction Amount: $4,000,000
  • Address: 1547-1555 60th Street
  • Market: Borough Park, Brooklyn
  • Buyer: Beitel Group - Ben Beitel
  • Seller: William Nussen
  • Square Footage: 8,000
  • Price per Square Foot: $500
  • Total Buildable Area: 32,048 square feet

William Nussen sold the industrial building to the Beitel Group for a total of $4 million. Ben Beitel represented the Beitel Group in this transaction. With 8,000 square feet of built space and 24,036 square feet of air rights, this property offers significant potential for future development.

Players

BB
Beitel Group
Ben Beitel
6 deals$510.9M volume
BUYER

Details

SOLD
IMAGE: Ben Beitel DATE: 05/16/2023 ADDRESS: 1547-1555 60th Street MARKET: Borough Park, Brooklyn ASSET TYPE: Industrial BUYER: Beitel Group (@BeitelGroup) - Ben Beitel SELLER: William Nussen SALE PRICE: $4,000,000 BSF: 32,048 ~ PPBSF: $125 SF: 8,000 ~ PPSF: $500 NOTE: Beitel Group, represented by Ben Beitel, purchased an industrial building in Borough Park, Brooklyn, for $4 million from William Nussen's 1547-55 60th St LLC. The property, located at 1547-1555 60th Street, offers 8,000 square feet of built space and an additional 24,036 square feet of air rights, allowing for a total buildable area of 32,048 square feet.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$213,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$14,211.17
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,962.04
Annual Debt Service$227,544.49