Frank Picone Acquires Mixed-Use Property On 238 Gates Avenue, Bushwick For $2.1M
238 Gates Ave, Brooklyn, NY 11238, USA
$2,135,000
$1,059/SF
Building Size
2,016 SF
Asset Type
Mixed-use
Closing
Nov 4, 2019
About this deal
AI
Located in Bushwick, the mixed-use property at 238 Gates Avenue has been sold in a closed transaction. The property was sold for a total price of $2,135,000.
Summary of transaction details
- Property Type: Mixed-use
- Sale Price: $2,135,000
- Address: 238 Gates Avenue
- Market: Bushwick
Representing the seller, Deergrow Developments, Max Kozlowitz and Elliot Horowitz facilitated the transaction. The buyer, Frank Picone, successfully acquired the property. The deal was negotiated by the brokers Matt Cosentino, Fred Bijou, and Eddie Laboz from TerraCRG.
On the Map
$2,135,000
$1,059/SF
Mixed-use
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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
7.43%
Cash-on-Cash
-2.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93