Picone Family Purchases Mixed-Use Property From James Neu In Brooklyn For $1.95M
406 Rogers Avenue
$1,950,000
$541/SF
Building Size
3,600 SF
Asset Type
Mixed-use
Closing
Mar 25, 2025
AI
The property involved in this transaction is a mixed-use asset located at 406 Rogers Avenue in Brooklyn. The sale was completed for a price of $1,950,000.00 and encompasses a total area of 3,600 square feet.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $1,950,000.00
- Address: 406 Rogers Avenue
- Market: Brooklyn
- Buyer: Picone family
- Seller: James Neu
- Square Footage: 3,600.0
In this transaction, the Picone family acted as the buyer while James Neu was the seller. The deal showcases the partnership between these individuals in the real estate market, noting their respective roles in this successful property transaction.
Players
Brooklyn 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
8.13%
Cash-on-Cash
-2.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93