Updated Dec 16, 2025
Normand Family Acquires Development Site At 149 Rockaway Avenue From Amrossi Family For $436,375
149 Rockaway Avenue
$436,375
$223/SF
Building Size
1,950 SF
Asset Type
Development Site
Closing
Nov 19, 2025
About this deal
AI
149 Rockaway Avenue is a development site located in Brooklyn, specifically in the Ocean Hill neighborhood. The asset spans 4,290 square feet and was sold for $436,375, which equates to $101 per buildable square foot. The property dimensions are 19.5' x 100'.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $436,375
- Building Square Footage: 4,290
- Price per Buildable Square Foot: $101
- Buyer: Normand Family
- Seller: Amrossi Family
- Brokers: David Caba & DJ Johnston - Matthews
David Caba and DJ Johnston from Matthews Real Estate Investment Services, Inc. represented the seller in this transaction. The brokers successfully navigated and resolved encroachment issues that arose during the closing process, ensuring that the sale concluded successfully.
On the Map
$436,375
$223/SF
Development Site
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
36.35%
Cash-on-Cash
-10.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93