Joel Ackerman Acquires Mixed-Use Property For $3.4M In Borough Park, Brooklyn
SOLD
$3,400,000
New York
See Similar DealsMixed-use10,882 SF
Sold 12/16/2020
SOLD
Joel Ackerman Acquires Mixed-Use Property For $3.4M In Borough Park, Brooklyn
1224 60th Street, Brooklyn, NY, USA
See Similar DealsMixed-use10,882 SF
Sold 12/16/2020
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$312
Total Square Footage:10,882 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$181,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$12,079.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$16,117.73
Annual Debt Service$193,412.82
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