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1878 3rd Ave, New York, NY ...

Moy Wang Acquires Mixed-Use Property In East Harlem For $2.1M
SOLDMixed-use

Moy Wang Acquires Mixed-Use Property In East Harlem For $2.1M

1878 3rd Ave, New York, NY 10029, USA

$2,100,000

$719/SF

Building Size

2,920 SF

Asset Type

Mixed-use

Closing

Aug 11, 2019

AI

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

Players

Kevin Darouvar

Dusk Group

Broker

$31.7M

vol

12 deals

Broker

Helen Altheim Stevens

Seller

$9.6M

vol

2 deals

Seller

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

7.55%

Cash-on-Cash

-2.16%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93