Scott Barone Of Barone Management Purchases Commercial Asset From Sam Chang For $14.4M In Queens
108 68 Roosevelt Avenue
$14,400,000
$306/SF
Building Size
46,923 SF
Asset Type
Commercial
Closing
Dec 15, 2025
AI
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.
Players
Corona Commercial Market Snapshot
Boundary boundary · Commercial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.10%
Cash-on-Cash
-0.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93