Artifact Acquires Mixed-Use Property In Harlem For $5.55M
SOLD
$5,550,000
New York
See Similar DealsMixed-use10,500 SF
Sold 05/27/2022
SOLD
Artifact Acquires Mixed-Use Property In Harlem For $5.55M
1840 Amsterdam Avenue, New York City, New York 10031, United States
See Similar DealsMixed-use10,500 SF
Sold 05/27/2022
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$528
Total Square Footage:10,500 SF
Transaction Type:Sale
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.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$295,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$19,717.98
Cash-on-Cash Return-1.27%
Monthly Debt Service$26,309.83
Annual Debt Service$315,717.98
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