Frank Picone Acquires Multifamily Property On 19th Street In Brooklyn, South Slope For $1.625M

The multifamily property located at 278 19th Street in Brooklyn, South Slope has been sold in a closed transaction. The property spans over 3,600 square feet and consists of 6 units. The asking price for the property was $2,000,0000, and it was ultimately sold for $1,625,000. This translates to a price per square foot of $451 and a price per unit of $270,833.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $1,625,000
• Address: 278 19th Street, Brooklyn, South Slope
• Square Footage: 3,600

The seller of the property was Dennis Brody, and the buyer was Frank Picone. Representing the deal was broker John Brennan from Marcus & Millichap. It is worth noting that the property is a free market frame building with plans for a gut rehab.