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Frank Picone Acquires Mixed-use Property From Johnny Din In Brooklyn For $2.16M

Property Image
SOLD
$2,160,000
Matthew (Matt) Cosentino
Johnny Din
+ 2

New York

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Mixed-use4,644 SF
Sold 06/24/2025
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Property Image
SOLD

Frank Picone Acquires Mixed-use Property From Johnny Din In Brooklyn For $2.16M

1375 Bedford Avenue

See Similar Deals
Mixed-use4,644 SF
Sold 06/24/2025
Matthew (Matt) Cosentino
Johnny Din
+ 2
Contact now

Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$465
Total Square Footage:4,644 SF
Transaction Type:Sale

The property asset involved in this transaction is a mixed-use building located at 1375 Bedford Avenue in Brooklyn. The sale price for this asset was $2,160,000, which reflects a price per unit of $720,000. The building consists of three units and has a total square footage of 3,763, resulting in a price per square foot of $575.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $2,160,000
  • Units: 3
  • Price Per Unit: $720,000
  • Square Footage: 3,763
  • Price Per Square Foot: $575
  • Buyer: Frank Picone
  • Seller: Johnny Din
  • Brokers: Matthew Cosentino, Remi Norris & Daniel Chung - Terra CRG

This transaction features the involvement of multiple brokers from Terra CRG, specifically Matthew Cosentino, Remi Norris, and Daniel Chung, who represented the interests of the buyer and seller in the deal.

Players

Matthew (Matt) Cosentino
81 deals$319M volume
BROKER

Remi Norris
Terra CRG
45 deals$138.4M volume(646) 427-2290
BROKER

Daniel Chung
Terra CRG
1 deal$2.2M volume(718) 395-1877
BROKER

Terra CRG
BROKERAGE


Johnny Din
16 deals$35.9M volume
SELLER

Details

SOLD
IMAGE: Remi Norris, Matthew Cosentino & Daniel Chung DATE: 6/24/2025 ADDRESS: 1375 Bedford Avenue MARKET: Brooklyn ASSET TYPE: Mixed-use BUYER: Frank Picone SELLER: Johnny Din BROKERS: Matthew Cosentino, Remi Norris (@RemiCRE) & Daniel Chung - Terra CRG (@TerraCRG) SALE PRICE: $2,160,000 UNITS: 3 ~ PPU: $720,000 SF: 3,763 ~ PPSF: $575

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$115,200.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$7,674.02
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,239.50
Annual Debt Service$122,874.02