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
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