Raymond Chakkalo Purchases Mixed-Use Property In East Harlem For $1.925M With Broker Alan Stenson

The property asset involved in the transaction is a mixed-use building located at 175 East 116th Street in the East Harlem market. It was sold for a price of $1,925,000, encompassing a total square footage of 3,825 with a price per square foot of $503.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $1,925,000
• Address: 175 East 116th Street
• Market: East Harlem
• Square Footage: 3,825
• Price per Square Foot: $503
• Buyer: Raymond Chakkalo
• Broker: Alan Stenson - Brax Realty

The transaction marks the first sale of this property in 50 years. Alan Stenson, representing Brax Realty, is currently marketing several more mixed-use and value-add buildings in the same area, indicating ongoing interest in property transactions within East Harlem.