Manny Chadha Acquires Boutique Hotel In Borough Park, Brooklyn For $6M
1108 60th St, Brooklyn, NY 11219, USA
Building Size
10,095 SF
Asset Type
Other
Closing
Jul 25, 2018
About this deal
AI
The Boutique Hotel located at 1108 60th St in Borough Park, Brooklyn has been sold for a total price of $6,000,000. The property spans a total of 10,095 square feet and has a price per square foot of $594. It features 26 keys and generates $230,000 in yearly revenue per key.
Summary of transaction details:
- Property Type: Boutique Hotel
- Transaction Amount: $6,000,000
- Address: 1108 60th St, NYC
- Market: Borough Park, Brooklyn
- Square Footage: 10,095
- Price Per Square Foot: $594
- Keys: 26
- Revenue Per Key: $230,000
Manny Chadha has purchased the property from Bao Zhi Liu. The transaction was facilitated by Joe Frasca & Richard DiPietro from Coldwell Banker Commercial.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93