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216 Prospect Park West, Bro...

Frank Picone Acquires Mixed-Use Property On Prospect Park West In Park Slope For $2.85M
SOLDMixed-use

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

$2,850,000

$863/SF

Building Size

3,300 SF

Asset Type

Mixed-use

Closing

Jun 26, 2022

AI

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

John Brennan

Marcus & Millichap

Broker

$187.6M

vol

73 deals

Broker

Frank Picone

Buyer

$13M

vol

6 deals

Buyer

New York Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.57%

Cash-on-Cash

-1.59%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93