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Scott Barone Of Barone Management Purchases Commercial Asset From Sam Chang For $14.4M In Queens
SOLD
$14,400,000
New York
See Similar DealsCommercial46,923 SF
Sold 12/15/2025
SOLD
Scott Barone Of Barone Management Purchases Commercial Asset From Sam Chang For $14.4M In Queens
108 68 Roosevelt Avenue
See Similar DealsCommercial46,923 SF
Sold 12/15/2025
Summary
NEW YORK
Asset Type:Commercial
Price Per Square Foot:$306
Total Square Footage:46,923 SF
Transaction Type:Sale
A commercial and retail unit was sold for $14,400,000 at 108-68 Roosevelt Avenue, located in the Corona neighborhood of Queens. The asset spans 46,923 square feet, resulting in a price per square foot of $307.
Summary of transaction details:
- Property Type: Commercial
- Transaction Amount: $14,400,000
- Buyer: Scott Barone - Barone Management
- Seller: Sam Chang - McSam Hotel Group
- Square Footage: 46,923
- Price per Square Foot: $307
Scott Barone, representing Barone Management, acquired the property from Sam Chang, who represents McSam Hotel Group. The transaction was facilitated through JJS Hudson LLC.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$768,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$51,160.16
Cash-on-Cash Return-1.27%
Monthly Debt Service$68,263.35
Annual Debt Service$819,160.16
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