AMS Acquisitions & Gideon Asset Management Acquire Mixed-Use Property In Harlem For $2.3M
147 E 116th St, New York, NY 10029, USA
$2,300,000
$483/SF
Building Size
4,760 SF
Asset Type
Mixed-use
Closing
Nov 28, 2020
AI
A mixed-use property located at 147 East 116th Street in Harlem, Manhattan has been involved in a recent closed transaction. The property is owned by AMS Acquisitions and Gideon Asset Management. It is situated in a vibrant market in New York City.
Summary of transaction details
- Property Type: Mixed-Use
- Loan Amount: $2,300,000
- Loan Terms: 5 Years, 2 Years Interest Only, Cash-Out
- Lender: Colorado Federal Savings Bank
- Landlord/Developer: AMS Acquisitions & Gideon Asset Management
The individuals and companies involved in this deal include Isaac Klein from GAM, Avi Abadie from AMS, Eric Gleitman from MCM, Michael Mitnick from AMS, and JoJo Chehebar from GAM.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.90%
Cash-on-Cash
-1.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93