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2162 3rd Avenue

St. Francis Friends Of The Poor Acquires Development Site From Omar Family For $15M In East Harlem
SOLDDevelopment Site

St. Francis Friends Of The Poor Acquires Development Site From Omar Family For $15M In East Harlem

2162 3rd Avenue

$15,000,000

$146/SF

Building Size

102,555 SF

Asset Type

Development Site

Closing

Dec 14, 2025

AI

The asset involved in this transaction is a development site located at 2162 3rd Avenue in the East Harlem market. The site has a sale price of $15,000,000 and comprises a building size of 102,555 square feet, resulting in a price per BSF of $146.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $15,000,000
  • Address: 2162 3rd Avenue
  • Market: East Harlem
  • Building Size: 102,555 sq ft
  • Price per BSF: $146
  • Buyer: St. Francis Friends of the Poor
  • Seller: Omar Family
  • Brokers: Daniel O'Brien, Eric Roth, Harry James - Newmark & Trystan Polsinelli - Compass

Key individuals involved in the transaction include the buyer, St. Francis Friends of the Poor, and the seller, Omar Family. The brokers representing the deal are Daniel O'Brien, Eric Roth, and Harry James from Newmark, alongside Trystan Polsinelli from Compass.

Players

Eric Roth

Newmark

Broker

$1.5B

vol

62 deals

Broker
Compass
CompassBrokerage
Newmark
NewmarkBrokerage

New York Development Site Market Snapshot

Boundary boundary · Development Site · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.06%

Cash-on-Cash

-0.30%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93