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
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