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402 Eastern Parkway

Shmuel Brook Acquires School Property At 402 Eastern Parkway Brooklyn For $16.05M
SOLDSchool

Shmuel Brook Acquires School Property At 402 Eastern Parkway Brooklyn For $16.05M

402 Eastern Parkway

$16,052,000

$277/SF

Building Size

57,840 SF

Asset Type

School

Closing

Jun 2, 2026

AI

Shmuel Brook acquired a school property located at 402 Eastern Parkway in Brooklyn. The property encompasses a total square footage of 57,840 and was sold for a price of $16,052,000, resulting in a price per square foot of $278.

Summary of transaction details:

  • Property Type: School
  • Transaction Amount: $16,052,000
  • Address: 402 Eastern Parkway
  • Market: Brooklyn
  • Square Footage: 57,840
  • Price Per Square Foot: $278
  • Buyer: Shmuel Brook
  • Seller: Joseph Taormina
  • Sale Date: June 2, 2026

This transaction involved Shmuel Brook as the buyer and Joseph Taormina as the seller, marking the completion of the sale of the school property situated in a key location in Brooklyn.

Players

Shmuel Brook

Buyer

$25.7M

vol

2 deals

Buyer

Brooklyn School Market Snapshot

Boundary boundary · School · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.99%

Cash-on-Cash

-0.28%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93