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1512 Park Place

Patrick Smith Purchases Multifamily Asset At 1512 Park Place Brooklyn For $2.3M From Isaac Rubinfeld
SOLDMultiFamily

Patrick Smith Purchases Multifamily Asset At 1512 Park Place Brooklyn For $2.3M From Isaac Rubinfeld

1512 Park Place

$2,300,000

$81/SF

Building Size

28,200 SF

Asset Type

MultiFamily

Closing

Oct 2, 2025

AI

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:

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.

Players

Zachary Fuchs

GFI Realty Services

Broker

$325.2M

vol

63 deals

Broker

Brooklyn 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

6.90%

Cash-on-Cash

-1.97%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93