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Samuel Palace Acquires 38-Unit Walkup Building For $4.3M In East Flatbush, Brooklyn

Property Image
SOLD
$4,275,000

New York

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MultiFamily31,500 SF
Sold 11/20/2023
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Property Image
SOLD

Samuel Palace Acquires 38-Unit Walkup Building For $4.3M In East Flatbush, Brooklyn

3213 Snyder Avenue

See Similar Deals
MultiFamily31,500 SF
Sold 11/20/2023
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$135
Total Square Footage:31,500 SF
Transaction Type:Sale

A 38-unit residential walkup building located at 3213 Snyder Avenue in East Flatbush, Brooklyn, has been sold in a recent transaction. The property was purchased by Samuel Palace for a total price of $4.3 million. The buyer was represented by 3213 Snyder Realty Group LLC, while the seller was Jacob Hager's entity, 3213 Snyder Realty Corp. The building offers a total of 31,500 square feet of space, with each unit having an average size of 825 square feet. The sale price per unit amounts to $112,500, and the price per square foot is $136.

Summary of transaction details

  • Property Type: MultiFamily
  • Transaction Amount: $4,275,000
  • Address: 3213 Snyder Avenue
  • Market: East Flatbush, Brooklyn
  • Buyer: Samuel Palace
  • Seller: Jacob Hager

In this transaction, Samuel Palace acquired the multi-family property located at 3213 Snyder Avenue, East Flatbush, Brooklyn. The purchase was made from Jacob Hager's entity, 3213 Snyder Realty Corp., for a total price of $4.3 million. Samuel Palace was represented by 3213 Snyder Realty Group LLC in this deal.

Players

SP
Samuel Palace
3 deals$10.2M volume
BUYER

Details

SOLD
IMAGE: 11/20/2023 ADDRESS: 3213 Snyder Avenue MARKET: East Flatbush, Brooklyn ASSET TYPE: MultiFamily BUYER: Samuel Palace SELLER: Jacob Hager SALE PRICE: $4,275,000 UNITS: 38 ~ PPU: $112,500 SF: 31,500 ~ PPSF: $136 NOTE: Samuel Palace, represented by 3213 Snyder Realty Group LLC, acquired a 38-unit residential walkup building at 3213 Snyder Avenue in East Flatbush, Brooklyn, from Jacob Hager's entity, 3213 Snyder Realty Corp., for $4.3 million.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$228,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$15,188.17
Cash-on-Cash Return-1.27%
Monthly Debt Service$20,265.68
Annual Debt Service$243,188.17