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
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
Loading comparables…
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