We show how the supersymmetric properties of three-dimensional black h
oles can be obtained algebraically. The black hole solutions are const
ructed as quotients of the supergroup OSp(1\2;R) by a discrete subgrou
p of its isometry supergroup. The generators of the action of the isom
etry supergroup which commute with these identifications are found. Th
ese yield the supersymmetries for the black hole as found in recent st
udies as well as the usual geometric isometries. It is also shown that
, in the limit of a vanishing cosmological constant, the black hole va
cuum becomes a null orbifold, a solution previously discussed in the c
ontext of string theory.