Assembly OSM Acquires Development Site In East Harlem From HAP Investments For $4.1M
247 E 117th St New York, NY 10035, USA
$4,125,000
Building Size
—
Asset Type
Development Site
Closing
May 17, 2023
AI
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.
Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.85%
Cash-on-Cash
-1.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93