Artifact Acquires Mixed-Use Property In Harlem For $5.55M
1840 Amsterdam Avenue, New York City, New York 10031, United States
$5,550,000
$528/SF
Building Size
10,500 SF
Asset Type
Mixed-use
Closing
May 26, 2022
About this deal
AI
Located in Harlem, the mixed-use property at 1840, 1842 & 1846 Amsterdam Avenue has been sold in a closed transaction. The sale took place on May 27, 2022. The property spans across 10,500 square feet and consists of 8 units. The sale price for this transaction was $5,550,000, resulting in a price per unit of $693,750 and a price per square foot of $528.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $5,550,000
- Units: 8
- Price per Unit: $693,750
- Square Footage: 10,500
- Price per Square Foot: $528
- Market: Harlem
The buyer in this transaction is Artifact, while the seller is Diana C. Nicholson.
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.86%
Cash-on-Cash
-0.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93