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
Brooklyn School Market Snapshot
Boundary boundary · School · Sale transactions
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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