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535 Liberty Avenue

Jack Mortellaro Acquires Mixed-Use Property In Brooklyn For $1.1M
SOLDMixed-use

Jack Mortellaro Acquires Mixed-Use Property In Brooklyn For $1.1M

535 Liberty Avenue

$1,100,000

$209/SF

Building Size

5,250 SF

Asset Type

Mixed-use

Closing

Jun 19, 2024

AI

The property located at 535 Liberty Avenue in Brooklyn was recently sold in a closed transaction. The mixed-use asset spans 5,250 square feet and was acquired for $1,100,000, amounting to a price per square foot of $210.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $1,100,000
  • Buyer: Jack Mortellaro
  • Seller: Estate Of Ortiz Family
  • Broker: Julio Reyes - Reyes & Elsamad
  • Address: 535 Liberty Avenue, Brooklyn
  • Market: Brooklyn

Julio Reyes of Reyes & Elsamad served as the broker facilitating the transaction between the buyer, Jack Mortellaro, and the seller, Estate Of Ortiz Family, ensuring a successful deal for all parties involved.

Players

Julio Reyes

Broker

$32.9M

vol

13 deals

Broker

Brooklyn 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

14.42%

Cash-on-Cash

-4.12%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93