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Assembly OSM Acquires Development Site In East Harlem From HAP Investments For $4.1M
SOLD
$4,125,000
New York
See Similar DealsDevelopment Site
Sold 05/17/2023
SOLD
Assembly OSM Acquires Development Site In East Harlem From HAP Investments For $4.1M
247 E 117th St New York, NY 10035, USA
See Similar DealsDevelopment Site
Sold 05/17/2023
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Sale
Assembly OSM, represented by Andrew Staniforth, acquired a development site in East Harlem, Manhattan. The property, located at 247 East 117th Street, was purchased from HAP Investments for a total price of $4.1 million. Eran Polack acted as the representative for HAP Investments in the transaction.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $4,125,000
- Buyer: Assembly OSM - Andrew Staniforth
- Seller: HAP Investments - Eran Polack
- Market: East Harlem, Manhattan
The acquisition of the development site was completed by Assembly OSM, with Andrew Staniforth as their representative. HAP Investments, represented by Eran Polack, sold the property to Assembly OSM for a total of $4.1 million.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$220,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,655.25
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,554.60
Annual Debt Service$234,655.25
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