Patrick Smith Purchases Multifamily Asset At 1512 Park Place Brooklyn For $2.3M From Isaac Rubinfeld
SOLD
$2,300,000
New York
See Similar DealsMultiFamily28,200 SF
Sold 10/03/2025
SOLD
Patrick Smith Purchases Multifamily Asset At 1512 Park Place Brooklyn For $2.3M From Isaac Rubinfeld
1512 Park Place
See Similar DealsMultiFamily28,200 SF
Sold 10/03/2025
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$81
Total Square Footage:28,200 SF
Transaction Type:Sale
The property at 1512 Park Place is a multifamily asset located in Brooklyn, encompassing 28,200 square feet with a total of 32 units. The sale price of the property was $2,300,000, resulting in a price per unit of $71,875 and a price per square foot of $81.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $2,300,000
- Units: 32
- Square Footage: 28,200
- Price Per Unit: $71,875
- Price Per Square Foot: $81
- Buyer: Patrick Smith
- Seller: Isaac Rubinfeld
- Brokers: Zachary Fuchs, Moshe Goldberger & Michael Weiser - GFI Realty Services
Zachary Fuchs, Moshe Goldberger, and Michael Weiser represented the brokerage firm GFI Realty Services in this transaction, facilitating the deal between buyer Patrick Smith and seller Isaac Rubinfeld.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$122,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,171.42
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,903.17
Annual Debt Service$130,838.08
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