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
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