Javier Martinez Acquires Industrial Property In Harlem, Manhattan For $18.05M
2337 Joe Dimaggio Hwy, New York City, New York 10027, United States
$18,050,000
$802/SF
Building Size
22,505 SF
Asset Type
Industrial
Closing
Mar 2, 2022
AI
The property asset involved in this transaction is an industrial building located at 2337 Joe Dimaggio Highway (aka 2335 Twelfth Ave) in Harlem, Manhattan. The property has a zoning classification of C6-2, MMU and sits on a lot size of 7,603 square feet. The lot dimensions measure 60.83 feet by 125 feet. The building has a total square footage of 22,505, with a price per square foot of $802, resulting in a total sale price of $18,050,000. The building has a total buildable square footage of 45,770, with a price per buildable square foot of $394. The FAR (Floor Area Ratio) for the property is 2.96. The property falls under tax class 4 and has permits registered as of July 12, 2021.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $18,050,000
- Buyer: Javier Martinez
- Seller: Angie Cayer
- Building Square Footage: 22,505
- Price Per Square Foot: $802
- Buildable Square Footage: 45,770
- Price Per Buildable Square Foot: $394
Javier Martinez is the buyer in this transaction, while Angie Cayer acts as the seller. Please note that no additional details are provided about the key individuals and companies involved in the deal.
Players
New York Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.88%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93