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238 Gates Ave, Brooklyn, NY...

Frank Picone Acquires Mixed-Use Property On 238 Gates Avenue, Bushwick For $2.1M
SOLDMixed-use

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

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.

Players

Fred Bijou

Bijou Equities

Broker

$107.3M

vol

33 deals

Broker

Frank Picone

Buyer

$13M

vol

6 deals

Buyer

Max Kozlowitz

Deergrow Developments

Seller

$5.7M

vol

3 deals

Seller

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