Joe Riegler Purchases Multifamily Asset At 1492 Eastern Parkway In Brooklyn For $1,000,026
1492 Eastern Parkway
$1,000,026
$289/SF
Building Size
3,460 SF
Asset Type
MultiFamily
Closing
Jun 17, 2026
AI
The property involved in this transaction is a multifamily asset located at 1492 Eastern Parkway in Brooklyn. It was sold for a price of $1,000,026, consisting of 3 units and encompassing a total square footage of 3,460. The price per unit stands at $333,342, while the price per square foot is $289.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,000,026
- Units: 3
- Price per Unit: $333,342
- Square Footage: 3,460
- Price per Square Foot: $289
- Buyer: Joe Riegler
- Seller: Osmond Hackshaw
- Buyer's Representative: Nathaniel Smith - FIND Real Estate
- Seller's Representative: Joshua Malekan - Bridge Advisory Group
This transaction involved key negotiations that faced initial setbacks but were ultimately resolved through strategic partnership and persistence. The successful resolution highlights the efforts of the representatives involved, showcasing their commitment to concluding the deal.
Players
Market 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
15.86%
Cash-on-Cash
-4.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93