Updated Dec 21, 2023
Cayer Family Sells Harlem Development Site For $18.05M With Brokers Josh Lipton & Andrew Levine - Invictus Property Advisors
2335 12th Avenue, New York City, New York 10027, United States
$18,050,000
$394/SF
Building Size
45,775 SF
Asset Type
Development Site
Closing
Mar 3, 2022
About this deal
AI
The Cayer Family has sold a development site located at 2335 12th Avenue in Harlem. The property was sold for a total of $18,050,000. The development site has a building square footage (BSF) of 45,775, with a price per building square footage (PPBSF) of $394. The transaction took place on March 4, 2022.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $18,050,000
- Address: 2335 12th Avenue
- Market: Harlem
The sale of the development site was facilitated by Josh Lipton and Andrew Levine from Invictus Property Advisors. They represented the sellers, The Cayer Family, in the transaction. Josh Lipton and Andrew Levine played a crucial role in negotiating and finalizing the deal.
On the Map
$18,050,000
$394/SF
Development Site
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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
0.88%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93