Picone Family Purchases Mixed-Use Property From James Neu In Brooklyn For $1.95M
SOLD
$1,950,000
New York
See Similar DealsMixed-use3,600 SF
Sold 03/25/2025
SOLD
Picone Family Purchases Mixed-Use Property From James Neu In Brooklyn For $1.95M
406 Rogers Avenue
See Similar DealsMixed-use3,600 SF
Sold 03/25/2025
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$541
Total Square Footage:3,600 SF
Transaction Type:Sale
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.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$103,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,927.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,243.99
Annual Debt Service$110,927.94
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