AIDS Healthcare Foundation Acquires Harlem Hotel For $8.5M
511 West 145th Street, New York City, New York 10031, United States
$8,509,958
$660/SF
Building Size
12,880 SF
Asset Type
Hotel
Closing
Oct 24, 2022
About this deal
AI
The AIDS Healthcare Foundation has purchased a hotel property located at 511 West 145th Street in Harlem, Manhattan. The seller of the property was Hamilton Heights Enterprise, LLC, represented by Paul Baxter Lanius III. The transaction was facilitated by Pier Robinson of Oxford Property Group. The sale took place on October 25, 2022, for a total price of $8,509,958.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $8,509,958
- Address: 511 West 145th Street, Harlem, Manhattan
- Market: Harlem, Manhattan
- Buyer: AIDS Healthcare Foundation
- Seller: Hamilton Heights Enterprise, LLC - Paul Baxter Lanius III
- Broker: Pier Robinson - Oxford Property Group
The hotel property has a total square footage of 12,880, with a price per square foot of $660. The building itself has a total building square footage of 13,990, with a price per building square foot of $608.
On the Map
$8,509,958
$660/SF
Hotel
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.86%
Cash-on-Cash
-0.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93