Moy Wang Acquires Mixed-Use Property In East Harlem For $2.1M
SOLD
$2,100,000
+ 1
New York
See Similar DealsMixed-use2,920 SF
Sold 08/12/2019
SOLD
Moy Wang Acquires Mixed-Use Property In East Harlem For $2.1M
1878 3rd Ave, New York, NY 10029, USA
See Similar DealsMixed-use2,920 SF
Sold 08/12/2019
+ 1
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$719
Total Square Footage:2,920 SF
Transaction Type:Sale
The mixed-use property located at 1878 3rd Avenue in East Harlem has been sold in a closed transaction. The property spans 2,920 square feet and was sold for a price of $2,100,000, which translates to a price per square foot of $719. The seller of the property was Helen Altheim Stevens Management Trust, while the buyer was Moy Wang. Yoel Sarraf, Kevin Darouvar, and Ryan Sabet, who represent Venture Capital Properties, acted as the brokers in this deal.
Summary of Transaction Details:
- Property Type: Mixed-use
- Transaction Amount: $2,100,000
- Address: 1878 3rd Avenue, East Harlem
- Square Footage: 2,920
- Seller: Helen Altheim Stevens Management Trust
- Buyer: Moy Wang
- Brokers: Yoel Sarraf, Kevin Darouvar, and Ryan Sabet - Venture Capital Properties
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$112,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,460.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,955.07
Annual Debt Service$119,460.86
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