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1224 60th Street, Brooklyn,...

Joel Ackerman Acquires Mixed-Use Property For $3.4M In Borough Park, Brooklyn
SOLDMixed-use

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

Victor Sozio

Ariel Property Advisors

Broker

$2.4B

vol

113 deals

Broker

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