Updated Oct 29, 2024
Happy Living Development Acquires Development Site In Harlem For $70M
300 W 122nd St, New York, NY 10027, USA
Building Size
205,000 SF
Asset Type
Development Site
Closing
Nov 28, 2020
About this deal
AI
The development site located at 300 West 122nd Street in Harlem, New York has been sold for approximately $70,000,000. The property is a residential condo development site with a total square footage of 205,000. The price per buildable square foot is $341.
Summary of transaction details
- Property Type: Development Site (Residential Condo)
- Transaction Amount: $70,000,000 (Approx.)
- BSF: 205,000
- PPBSF: $341
- Market: Harlem
The seller of the property is RWN Real Estate Partners, represented by Ari Shalam. The buyer is Happy Living Development.
On the Map
Development Site
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93