Updated Oct 20, 2025
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
About this deal
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:
- 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.
On the Map
$2,300,000
$81/SF
MultiFamily
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Players
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