Ali Rowmein Purchases Industrial Property At 1279 Utica Avenue Brooklyn For $2.4 Million
1279 Utica Avenue
$2,400,000
$489/SF
Building Size
4,900 SF
Asset Type
Industrial
Closing
Jan 1, 2026
AI
The property involved in this transaction is an industrial asset located at 1279 Utica Avenue in Brooklyn. The sale price of the property was $2,400,000, with a total area of 4,900 square feet, resulting in a price per square foot of $489.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $2,400,000
- Address: 1279 Utica Avenue
- Market: Brooklyn
- Square Footage: 4,900
- Price Per Square Foot: $489
- Buyer: Ali Rowmein
- Seller: Howard Horowitz
- Brokers: Vito Angelo & Billy Apter - Re/Max
Vito Angelo and Billy Apter represented the seller, Howard Horowitz, and buyer, Ali Rowmein, in this transaction. They are noted as top-producing agents, emphasizing their capability in the real estate market.
Players
Brooklyn Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.61%
Cash-on-Cash
-1.89%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93