Joel Ackerman Acquires Mixed-Use Property For $3.4M In Borough Park, Brooklyn
1224 60th Street, Brooklyn, NY, USA
$3,400,000
$312/SF
Building Size
10,882 SF
Asset Type
Mixed-use
Closing
Dec 15, 2020
AI
Located in Borough Park, Brooklyn, the mixed-use property at 1224-1232 60th Street was recently sold in a transaction. The property spans an area of 10,882 square feet and was sold for a total price of $3,400,000, which translates to a price per square foot of $312. The sale was finalized on December 16, 2020.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $3,400,000
- Property Size: 10,882 square feet
- Market: Borough Park, Brooklyn
Joel Ackerman was the buyer in the transaction, while Michael Screnci acted as the seller. Lawrence Sarn and Victor Sozio from rielPA.NYC played the role of brokers representing both parties involved in the deal.
Players
New York 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
4.67%
Cash-on-Cash
-1.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93