Frank Picone Acquires Mixed-Use Property On 238 Gates Avenue, Bushwick For $2.1M
SOLD
$2,135,000
New York
See Similar DealsMixed-use2,016 SF
Sold 11/05/2019
SOLD
Frank Picone Acquires Mixed-Use Property On 238 Gates Avenue, Bushwick For $2.1M
238 Gates Ave, Brooklyn, NY 11238, USA
See Similar DealsMixed-use2,016 SF
Sold 11/05/2019
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$1,059
Total Square Footage:2,016 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$113,866.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,585.20
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,120.99
Annual Debt Service$121,451.87
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