Updated Mar 11, 2026
Moshe Steinmetz Purchases Development Site At 302 West 128th Street From Stefan Martinovich For $900,000
302 West 128th Street
$900,000
$470/SF
Building Size
1,913 SF
Asset Type
Development Site
Closing
Jan 26, 2026
About this deal
AI
The development site located at 302 West 128th Street in Harlem, Manhattan has been sold for $900,000. The total building square footage of the property amounts to 11,513, with a price per building square foot of $78. The lot square footage of the property is 1,913.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $900,000
- Building Square Footage: 11,513
- Price per Building Square Foot: $78
- Lot Square Footage: 1,913
- Buyer: Moshe Steinmetz
- Seller: Stefan Martinovich
- Brokers: Mitchel Flaherty, Brian Whelan, Jonathan (Yoni) Auerbach, Jake Shapiro & Jared Gootnick - Ripco
This transaction involved Moshe Steinmetz as the buyer and Stefan Martinovich as the seller. The brokers representing the deal comprised a team from Ripco, including Mitchel Flaherty, Brian Whelan, Jonathan (Yoni) Auerbach, Jake Shapiro, and Jared Gootnick.
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
17.63%
Cash-on-Cash
-5.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93