Frank Picone Acquires Mixed-Use Property On Prospect Park West In Park Slope For $2.85M
SOLD
$2,850,000
New York
See Similar DealsMixed-use3,300 SF
Sold 06/27/2022
SOLD
Frank Picone Acquires Mixed-Use Property On Prospect Park West In Park Slope For $2.85M
216 Prospect Park West, Brooklyn, New York 11215, United States
See Similar DealsMixed-use3,300 SF
Sold 06/27/2022
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$863
Total Square Footage:3,300 SF
Transaction Type:Sale
Located in Park Slope, 216 Prospect Park West is a mixed-use property that recently changed hands in a sale transaction. The deal was completed on 06/27/2022, with a sale price of $2,850,000. The property spans 3,300 square feet and has a price per square foot of $863. The buyer, Frank Picone, acquired the property from the seller, Bob Panza.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $2,850,000
- Address: 216 Prospect Park West
- Market: Park Slope
Assisting in the deal were brokers John Brennan and Matt Dittmeier from Marcus & Millichap. They represented the buyer and seller respectively, ensuring a smooth transaction for both parties involved.
Players
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$151,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,125.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,510.45
Annual Debt Service$162,125.45
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