Development Site At 157-181 East 108th Street Sold For $17.25M In East Harlem
SOLD
$17,250,000
New York
See Similar DealsDevelopment Site
Sold 01/09/2025
SOLD
Development Site At 157-181 East 108th Street Sold For $17.25M In East Harlem
East 108th Street
See Similar DealsDevelopment Site
Sold 01/09/2025
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Sale
The asset involved in this transaction is a development site located at 157-181 East 108th Street in the East Harlem market. The transaction was completed for a sale price of $17,250,000, with a total building square footage of 89,314 and a price per building square foot of $193.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $17,250,000
- Address: 157-181 East 108th Street
- Market: East Harlem
- Building Square Feet: 89,314
- Price per Building Square Foot: $193
Michael Tortorici and Shimon Shkury of Ariel Property Advisors represented the parties involved in this deal, facilitating the transaction in the East Harlem market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$919,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$61,285.61
Cash-on-Cash Return-1.27%
Monthly Debt Service$81,773.80
Annual Debt Service$981,285.61
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