Updated Oct 29, 2024
Palladium Property Group Acquires Multifamily Property In Flatbush For $1 Million
223 Martense St, Brooklyn, NY 11226, USA
Building Size
31,980 SF
Asset Type
MultiFamily
Closing
Mar 21, 2018
About this deal
AI
A multifamily property located at 275 Martense Street in Flatbush has been sold for $1,000,000. The property spans 8,976 square feet, resulting in a price per square foot of $111. It consists of 8 units, with a price per unit of $125,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,000,000
- Address: 275 Martense Street, Flatbush
- Market: Flatbush
- Size: 8,976 square feet
- Price per Square Foot: $111
- Units: 8
- Price per Unit: $125,000
The sellers of the property are John & Mathilda Brathwaite. The buyers are Palladium Property Group, represented by Nuchem Obstfeld. The deal was facilitated by Erik Rodriguez from Rodriguez Commercial Realty (RCR).
New York 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93