Updated Dec 20, 2023
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
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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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