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68 W 128th St New York, NY ...

Adam Malul Acquires Development Site On 68 West 128th Street In New York City For $640,000
SOLDDevelopment Site

Adam Malul Acquires Development Site On 68 West 128th Street In New York City For $640,000

68 W 128th St New York, NY 10027, USA

$640,000

$365/SF

Building Size

1,750 SF

Asset Type

Development Site

Closing

Feb 23, 2023

AI

The development site located at 68 West 128th Street in New York City has been sold in a recent transaction. The buyer, Adam Malul, acquired the property from Melody Development, represented by David Menash. The sale was facilitated by Sadya Liberow and Mark Akilov from Asset Commercial Realty Group.

Summary of transation details

  • Property Type: Development Site
  • Transaction Amount: $640,000
  • Address: 68 West 128th Street, New York City
  • Market: New York City

Adam Malul successfully purchased the property for a total price of $640,000. The development site spans an area of 1,750 square feet. The price per square foot for this transaction is approximately $366. The deal was brought to market at a higher price initially, but after multiple price reductions, Asset Commercial Realty Group was able to secure an all-cash offer with a 30-day closing period.

For further information or to inquire about other potential off-market opportunities, interested parties can contact Sadya Liberow at 646.363.6175 or via email at [email protected]. They can also reach out to Mark Akilov, Esq., at 646.361.6274 or [email protected].

Players

Mark Akilov

Asset CRG Advisors

Broker

$19M

vol

13 deals

Broker
Sadya Liberow
Verified Badge

Sadya Liberow

Asset CRG Advisors

Broker

$124.8M

vol

32 deals

Broker
MD
Melody DevelopmentSeller

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

24.79%

Cash-on-Cash

-7.08%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93