Frank Perone Acquires Mixed-Use Property In Brooklyn From Kim Crenshaw-Jenkins For $2,825,000
626 Vanderbilt Avenue
$2,825,000
$901/SF
Building Size
3,135 SF
Asset Type
Mixed-use
Closing
Apr 27, 2026
About this deal
AI
A mixed-use property located at 626 Vanderbilt Avenue in Brooklyn was successfully sold for $2,825,000. The property spans 3,135 square feet, translating to a price per square foot of $901.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $2,825,000
- Address: 626 Vanderbilt Avenue
- Market: Brooklyn
- Square Footage: 3,135
- Price Per Square Foot: $901
- Buyer: Frank Perone
- Seller: Kim Crenshaw-Jenkins
- Brokers: Shaun Riney, Andrew Bronsteen & Jason Farese - Marcus & Millichap
The transaction involved notable brokers Shaun Riney, Andrew Bronsteen, and Jason Farese from Marcus & Millichap. A 1031 buyer was found, willing to accept a 5.8% cap rate after a competitive bidding process that featured 20 property tours and received 19 offers. The market for fully free market buildings has been very active, leading to significant sales activity.
On the Map
$2,825,000
$901/SF
Mixed-use
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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
5.62%
Cash-on-Cash
-1.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93