facebook
Traded Co logo
Submit

Hershel Spitz Acquires Multifamily Property From Maverick Real Estate Partners For $2.55M In Bushwick

Property Image
SOLD
$2,550,000
Daniel Greenblatt
Shaun Riney
+ 1

New York

See Similar Deals
MultiFamily4,875 SF
Sold 03/14/2025
the dealplayerscompscontact
Property Image
SOLD

Hershel Spitz Acquires Multifamily Property From Maverick Real Estate Partners For $2.55M In Bushwick

230 Schaefer Street

See Similar Deals
MultiFamily4,875 SF
Sold 03/14/2025
Daniel Greenblatt
Shaun Riney
+ 1
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$523
Total Square Footage:4,875 SF
Transaction Type:Sale

The property asset involved in the transaction is a multifamily building located at 230 Schaefer Street, Bushwick, Brooklyn. The asset was sold for $2,550,000 and consists of 6 units. It has a total square footage of 4,875, resulting in a price per unit of $425,000 and a price per square foot of $523.

Summary of transation details:

The deal was executed with 100% vacancy delivered and included a 60-Day Terms of Engagement closing as noted by the broker. The transaction showcases the involvement of experienced brokers from Marcus & Millichap, representing Maverick Real Estate Partners throughout the sale process.

Players

Michael (Mike) Salvatico
173 deals$787M volume(718) 475-4358
BROKER

Daniel Greenblatt
Marcus & Millichap
69 deals$263.4M volume
BROKER

Shaun Riney
Marcus & Millichap
355 deals$1.8B volume(718) 475-4369
BROKER

Vincent Tomaselli
Marcus & Millichap
6 deals$14.4M volume(718) 475-4300
BROKER

Details

SOLD
IMAGE: Daniel Greenblatt, Shaun Riney, Michael Salvatico & Vincent Tomaselli DATE: 03/14/2025 ADDRESS: 230 Schaefer Street MARKET: Bushwick, Brooklyn ASSET TYPE: Multifamily BUYER: Hershel Spitz SELLER: Maverick Real Estate Partners BROKERS: Shaun Riney (@ShaunRiney1), Michael Salvatico (@MikeSalvatico), Daniel Greenblatt (@Dealblatt) & Vincent Tomaselli - Marcus & Millichap (@MarcusMillichapInc) SALE PRICE: $2,550,000 UNITS: 6 ~ PPU: $425,000 SF: 4,875 ~ PPSF: $523 NOTE FROM BROKER: Sold for Maverick Real Estate Partners. Delivered 100% vacant with a 60-Day TOE closing. &Millichap

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$136,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$9,059.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,088.30
Annual Debt Service$145,059.61