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302 West 128th Street

Moshe Steinmetz Purchases Development Site At 302 West 128th Street From Stefan Martinovich For $900,000
SOLDDevelopment Site

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:

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

Brian Whelan

Ripco

Broker

$137.6M

vol

31 deals

Broker

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