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81 W 118th St, New York, NY...

Yosef Beer Acquires Development Site In Central Harlem For $1.9M
SOLDDevelopment Site

Yosef Beer Acquires Development Site In Central Harlem For $1.9M

81 W 118th St, New York, NY 10026, USA

$1,900,000

$42/SF

Building Size

44,800 SF

Asset Type

Development Site

Closing

Aug 17, 2020

AI

A development site located at 81 West 118th Street in Central Harlem has been sold for a price of $1,900,000. The property has a building square footage (BSF) of 4,480 and a price per BSF (PPBSF) of $424.

Summary of transation details

  • Property Type: Development site
  • Transaction Amount: $1,900,000
  • BSF: 4,480
  • PPBSF: $424
  • Address: 81 West 118th Street
  • Market: Central Harlem

The buyer of the property is Yosef Beer, and the seller is Albert Rabizadeh from Global Asset Management. The deal was facilitated by Mark Anderson and Victor Sozio from ArielPA.NYC.

Players

Mark Anderson

Colliers

Broker

$11.3M

vol

2 deals

Broker

Yosef Beer

Buyer

$42.5M

vol

7 deals

Buyer

Albert Rabizadeh

Global Asset Management

Seller

$110.7M

vol

11 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

8.35%

Cash-on-Cash

-2.39%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93