Samuel Palace Acquires Multifamily Property In Crown Heights, Brooklyn For $1.02M
1384 Sterling Place, Brooklyn, NY 11213
$1,020,000
$291/SF
Building Size
3,500 SF
Asset Type
MultiFamily
Closing
Dec 16, 2021
AI
A multifamily property located at 1384 Sterling Place in Crown Heights, Brooklyn has been sold for a price of $1,020,000. The property consists of three units with a total square footage of 3,500. The sale price per unit is $340,000, and the price per square foot is $291.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,020,000
- Address: 1384 Sterling Place, Crown Heights, Brooklyn
- Market: Crown Heights, Brooklyn
- Buyer: Samuel Palace
- Seller: Josh Blackman
- Broker: Ty Gallishaw - Highcap Group
The buyer of the property is Samuel Palace, and the seller is Josh Blackman. The deal was facilitated by Ty Gallishaw of Highcap Group.
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
15.55%
Cash-on-Cash
-4.44%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93