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Dominick Palumbo Acquires Multifamily Property On Bay Ridge Pkwy, Dyker Heights For $2.55M

1469 & 1471 Bay Ridge Parkway
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This MultiFamily property located in NY was sold for $2,550,000 about 3 years ago. The brokers of the deal were Samuel Finkler and John Brennan

A multifamily property located at 1469 & 1471 Bay Ridge Pkwy in Dyker Heights has been sold for a total price of $2,550,000. The property consists of 12 units and spans across 10,580 square feet. The price per unit was $212,500, while the price per square foot was $241. With a Gross Rent Multiplier (GRM) of 11.14x and a Capitalization Rate (CAP) of 5.51%, this transaction highlights the financial performance of the property.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,550,000
  • Units: 12
  • Price per Unit (PPU): $212,500
  • Square Footage: 10,580
  • Price per Square Foot (PPSF): $241
  • Gross Rent Multiplier (GRM): 11.14x
  • Capitalization Rate (CAP): 5.51%

Dominick Palumbo acquired the property from Rita Giura. The transaction was facilitated by John Brennan and Samuel Finkler from Marcus & Millichap's New York office.

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Deals
  • Location
    1469 Bay Ridge Pkwy, Brooklyn, NY, USA1469 Bay Ridge Pkwy, Brooklyn, NY, USA
  • Sale Price
    $2,550,000$2,550,000
    $241 PPSF$241 PPSF
  • Area
    10,580 SF10,580 SF
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    2 Brokers, 2 Agencies2 Brokers, 2 Agencies

Agents

Samuel Finkler

Samuel Finkler

Deals23
Sold$98.5M

Agencies

TrueRate Services

TrueRate Services

Agency
Deals41
Volume$233.1M

Marcus & Millichap

Marcus & Millichap

Agency
Deals7003
Volume$66B

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Deal Summary

SALE IMAGE: Samuel Finkler & John Brennan DATE: 02/10/2021 ADDRESS: 1469 & 1471 Bay Ridge Pkwy MARKET: Dyker Heights ASSET TYPE: Multifamily BUYER: Dominick Palumbo SELLER: Rita Giura BROKERS: John Brennan (@TheBrennanTeamOfMM) & Samuel Finkler (@Sam_Finkler) @MarcusMillichap_NY SALE PRICE: $2,550,000 UNITS: 12 ~ PPU: $212,500 SF: 10,580 ~ PPSF: $241 GRM: 11.14x ~ CAP: 5.51%

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1469 & 1471 Bay Ridge Parkway

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