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455 and 457 Lenox

Updated Oct 29, 2024

55 Lenox Ave LLC Acquires Mixed Use Property In Harlem, NY For $3M
FINANCED

55 Lenox Ave LLC Acquires Mixed Use Property In Harlem, NY For $3M

$500,000,000

Units

10

Asset Type

Closing

May 13, 2018

About this deal

AI

Located in Harlem, New York, the mixed-use properties at 455 and 457 Lenox Avenue have recently been involved in a closed transaction. The assets were sold for a total amount of $3,000,000. Spanning a total of 6,000 square feet, the properties consist of 10 units, including 8 residential and 2 commercial spaces. The address of the properties is 455 and 457 Lenox Avenue, Harlem, NY.

Summary of transation details

  • Property Type: Mixed Use
  • Transaction Amount: $3,000,000
  • Square Footage: 6,000 sf
  • Units: 10 (8 Residential and 2 Commercial)

The transaction was facilitated by The Cornerstone Group, with Aleksandr Leykind representing the buyer or seller. The buyer's representative, Aleksandr Leykind of The Cornerstone Group, assisted in ensuring a successful transaction. The lender responsible for the mortgage was Patriot Bank. The landlord of the properties, 455 Lenox Ave LLC, is associated with Alex Goldschmidt.

Players

Patriot Bank MORTAGE
Patriot Bank MORTAGELender

Market CRE Market Snapshot

Boundary boundary · CRE · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.03%

Cash-on-Cash

-0.01%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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