Updated Sep 4, 2026
SOLDMultiFamily
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).
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93