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1888 Park Avenue

Jack Haroche, Adam Croman, Jake Croman & Jeremey Tahari Acquire East Harlem Mixed-Use Property For $2.55M From Seller Ron Rettner
SOLDMixed-use

Jack Haroche, Adam Croman, Jake Croman & Jeremey Tahari Acquire East Harlem Mixed-Use Property For $2.55M From Seller Ron Rettner

1888 Park Avenue

$2,550,000

$393/SF

Building Size

6,480 SF

Asset Type

Mixed-use

Closing

Jul 19, 2022

AI

Located in East Harlem, the mixed-use property at 1886-1888 Park Ave. has been sold in a recent transaction. The property spans over 6,480 square feet and features a sale price of $2,550,000, resulting in a price per square foot of $394.

Summary of Transaction Details

  • Property Type: Mixed-use
  • Transaction Amount: $2,550,000
  • Address: 1886-1888 Park Ave.
  • Market: East Harlem

The buyers in this transaction are Jack Haroche, Adam Croman, Jake Croman, and Jeremey Tahari. Representing the buyer's side, Aaron Jungries, Ben Khakshoor, and Alex Fuchs from Rosewood Realty Group were the brokers involved in the deal. The seller of the property is Ron Rettner.

Players

Aaron Jungreis

Rosewood Realty Group

Broker

$4.4B

vol

207 deals

Broker
Jeremey Tahari

Jeremey Tahari

Black Bear Capital Partners

Buyer

$59.5M

vol

16 deals

Buyer

Ron Rettner

Seller

$61.2M

vol

6 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

6.22%

Cash-on-Cash

-1.78%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93