Jiren He Acquires Development Site In Central Harlem For $2.4M
303 West 113th Street, Manhattan, New York, NY, USA
$2,400,000
$237/SF
Building Size
10,092 SF
Asset Type
Development Site
Closing
Oct 27, 2021
AI
A development site located at 303 W. 113th St. in Central Harlem has been sold for $2,400,000. The buyer, Jiren He, purchased the property from Brian Whelan and Alix Curtin of The Whelan Team at B6RealEstate. The development site spans approximately 10,092 square feet and has a price per buildable square foot (PPBSF) of $238.
Summary of transaction details
- Property Type: Development Site 🏗
- Transaction Amount: $2,400,000
- Market: Central Harlem
- Address: 303 W. 113th St.
Brian Whelan and Alix Curtin, representing The Whelan Team at B6RealEstate, acted as the seller's representatives in the deal. The sale was finalized on October 27, 2021.
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
6.61%
Cash-on-Cash
-1.89%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93