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2197 3rd Avenue

David Goldberger Acquires East Harlem Development Site From Sharon Kahen For $18 Million
SOLDDevelopment Site

David Goldberger Acquires East Harlem Development Site From Sharon Kahen For $18 Million

2197 3rd Avenue

$18,000,000

Building Size

Asset Type

Development Site

Closing

Dec 16, 2025

AI

A development site located at 2197 3rd Avenue in East Harlem, Manhattan is currently under contract. This shovel-ready lot is approved for a 105,000-square-foot mixed-use project that will include 140 units, with 34 designated as affordable housing. The property has an asking price of $18,000,000.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $18,000,000
  • Buyer: David Goldberger
  • Seller: Sharon Kahen - Golani Development Group
  • Deposit Amount: $1,400,000
  • Closing Scheduled: 2026
  • Market: East Harlem, Manhattan

Sharon Kahen, representing Golani Development Group, entered into a contract with David Goldberger after his attempt to acquire a nearby historic church was unsuccessful. This transaction involves a 421-a–vested site that aligns with Goldberger's development plans.

Players

David Goldberger

Buyer

$68.3M

vol

4 deals

Buyer

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

0.88%

Cash-on-Cash

-0.25%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93