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
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