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1314 Eastern Parkway, Brook...

Updated Dec 20, 2023

Bilt advertisement
Samuel Palace Acquires Apartment Building In Crown Heights, Brooklyn For $4.9M
SOLDMultiFamily

Samuel Palace Acquires Apartment Building In Crown Heights, Brooklyn For $4.9M

1314 Eastern Parkway, Brooklyn, New York 11233, United States

$4,875,000

$440/SF

Building Size

11,073 SF

Asset Type

MultiFamily

Closing

Feb 28, 2022

About this deal

AI

The property located at 1314 Eastern Parkway in Crown Heights, Brooklyn has been sold. The apartment building has a total square footage of 11,073, with a price per square foot of $440. The building has a buildable square footage of 10,894, with a price per buildable square foot of $447. The transaction took place on March 1, 2022, and the buyer is Samuel Palace, while the seller is Isaac Abraham. The property was sold for a total price of $4,875,000. The lot size is 4,483 square feet, with dimensions of 39 ft x 108 ft. The property is classified as a 2B tax class and has a floor area ratio (FAR) of 2.47. The last recorded sale of the property was for $5,000,000 on November 29, 2016, and there was an alteration permit issued on December 26, 2012.

Summary of transaction details

  • Property Type: Apartment
  • Transaction Amount: $4,875,000
  • Market: Crown Heights, Brooklyn
  • Zoning: R6
  • Buyer: Samuel Palace
  • Seller: Isaac Abraham
  • Building Square Footage: 11,073
  • Price per Square Foot: $440
  • Buildable Square Footage: 10,894
  • Price per Buildable Square Foot: $447
  • Lot Size: 4,483 square feet
  • Tax Class: 2B
  • Floor Area Ratio (FAR): 2.47
  • Last Sale Price: $5,000,000 (11/29/2016)
  • Permits: Alteration 2 (12/26/2012)
  • Lot Dimensions: 39 ft x 108 ft

Note: No additional details were provided regarding the property.

Players

Isaac Abraham

Arbor Realty Trust

Broker

$201.3M

vol

17 deals

Broker

Samuel Palace

Buyer

$10.2M

vol

3 deals

Buyer

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $440 per square foot on a published $4.9M for 11,073 square feet (2022).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.25%

Cash-on-Cash

-0.93%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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