Sunrise Equities Acquires Mixed-Use Building In East Harlem's Busiest Commercial Corridor

206 East 116th Street, a mixed-use building, located in East Harlem's busiest commercial corridor, was recently sold in a transaction. The property is situated at an address of 206 E. 116th St. and is part of the East Harlem market. The sale took place on 03/18/2022.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $1,700,000
• Square Footage: 4,480 SF
• Price per Square Foot: $379
• Building Square Footage: 12,410 BSF
• Price per Building Square Foot: $136

The buyer of the property is Sunrise Equities, represented by Neer Sachar. The seller in this transaction is Salvatore Bosco. The broker team involved in the deal includes Jonathan Hakimian, Roni Soleimani, and Joshua Pomerantz of SP Capital Group.

During the negotiations, SP Capital Group was successful in securing commercial lease extensions and seller financing terms that were beneficial to all parties involved in the transaction.

Sunrise Equities has expressed their pride in acquiring 206 East 116th Street. They are actively seeking value-add and adaptive reuse investment opportunities in Manhattan and the Boroughs. Neer Sachar can be contacted at [email protected] or (516)776-3195.

For those interested in buying or selling similar properties, the following individuals can be contacted:

• Jonathan Hakimian - (212)364-5614 - [email protected]
• Roni Soleimani - (212)235-2764 - [email protected]