Harrison Miles Acquires Manhattan Valley & Upper Manhattan Co-Op Portfolio For $5.7M
63 West 107th Street, 67 West 107th Street, 411 Manhattan Avenue, 450 West 147th Street, 825 West 179th Street & 930 Saint Nicholas Avenue
$5,700,000
$22/SF
Building Size
42,255 SF
Asset Type
Co-Op
Closing
Apr 1, 2024
About this deal
AI
The Manhattan Valley Condo & Upper Manhattan Co-Op Portfolio, located at 63-67 West 107th Street; 411, 417, 421 Manhattan Avenue; 450 West 147th Street; 825 West 179th Street & 930 Saint Nicholas Avenue, comprises a collection of unsold coop and condo shares. The portfolio spans a total square footage of 42,255 square feet, with a total of 54 units. The transaction took place in Manhattan Valley and Upper Manhattan, with a sale price of $5,700,000, equating to a price per unit of $105,556 and a price per square foot of $135.
Summary of transaction details:
- Property Type: Portfolio of Unsold Coop & Condo Shares
- Transaction Amount: $5,700,000
- Buyer: Harrison Miles
- Seller: Myles Horn
- Brokers: Logan Markley, Seth Glasser, Benny Katz & Michael Fusco - Marcus & Millichap
The deal was facilitated by Logan Markley, Seth Glasser, Benny Katz, and Michael Fusco from Marcus & Millichap. Harrison Miles, the buyer, and Myles Horn, the seller, were the key individuals involved in this transaction, finalizing the acquisition of the Manhattan Valley Condo & Upper Manhattan Co-Op Portfolio.
On the Map
$5,700,000
$22/SF
Co-Op
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Players
New York Co-Op Market Snapshot
Boundary boundary · Co-Op · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.78%
Cash-on-Cash
-0.80%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93