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
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