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247 E 117th St New York, NY...

Assembly OSM Acquires Development Site In East Harlem From HAP Investments For $4.1M
SOLDDevelopment Site

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

Eran Polack

HAP Investments

Seller

$586.9M

vol

4 deals

Seller

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

3.85%

Cash-on-Cash

-1.10%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93