Tahari Capital Acquires Mixed-Use Property At 1875 Lexington Avenue For $11.8 Million
1875 Lexington Avenue
$11,800,000
$393/SF
Building Size
29,975 SF
Asset Type
Mixed-use
Closing
Dec 31, 2024
AI
The property located at 1875 Lexington Avenue in East Harlem is a mixed-use asset featuring a total sale price of $11,800,000. The property encompasses approximately 29,975 square feet and includes 30 residential units along with 6 commercial units, pricing the square footage at $393 per square foot.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $11,800,000
- Square Footage: 29,975
- Price per Square Foot: $393
- Residential Units: 30
- Commercial Units: 6
- Date of Transaction: 12/31/2024
- Buyer: Tahari Capital
- Brokers: Shimon Shkury, Victor Sozio & Alexander Taic - Ariel Property Advisors
This transaction is noted as the largest mixed-use property sale in East Harlem for the year 2024, highlighting the significance of this deal within the market. The brokers involved, Shimon Shkury, Victor Sozio, and Alexander Taic, represented the buyer, Tahari Capital, during the negotiation and execution of this sale.
Players
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
1.34%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93