Daichi Shimbo Acquires Condo Unit In South Harlem For $1.51M
310 West 114th Street
$1,510,000
$1,022/SF
Building Size
1,477 SF
Asset Type
—
Closing
May 17, 2020
About this deal
AI
A condo unit located at 310 W. 114th St in South Harlem was recently sold in a closed transaction. The property, owned by @MDevelopmentNYC's Raffi Manor, was purchased by Daichi Shimbo for a sale price of $1,510,000. The asking price for the unit was $1,600,000. The condo unit spans 1,477 square feet, resulting in a price per square foot of $1,022.
Summary of transaction details
- Property Type: Condo unit
- Transaction Amount: $1,510,000
- Address: 310 W. 114th St
- Market: South Harlem
Representing the buyer in this deal was David Avgi. He facilitated the transaction between Daichi Shimbo and the seller, Raffi Manor of @MDevelopmentNYC. The sale of this condo unit highlights the demand for properties in the South Harlem market.
Players
New York CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Deal FAQ
About $1K per square foot on a published $1.5M for 1,477 square feet (2020).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
10.51%
Cash-on-Cash
-3.00%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93