Updated Oct 29, 2024
Beitel Group Acquires Industrial Building On 60th Street, Borough Park For $4M
1547 60th Street Brooklyn, NY 11219
$4,000,000
$500/SF
Building Size
8,000 SF
Asset Type
Industrial
Closing
May 16, 2023
About this deal
AI
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.
On the Map
$4,000,000
$500/SF
Industrial
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Players
Brooklyn Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93