Updated Feb 3, 2025
Development Site At 157-181 East 108th Street Sold For $17.25M In East Harlem
East 108th Street
$17,250,000
Building Size
—
Asset Type
Development Site
Closing
Jan 9, 2025
About this deal
AI
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.
On the Map
$17,250,000
Development Site
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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
0.92%
Cash-on-Cash
-0.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93