Arman Noghreh Acquires Mixed-Use Property In East Harlem From The Cappi Family

The Cappi Family has sold the mixed-use property located at 2108-2110 2nd Avenue in East Harlem. The property was purchased by Arman Noghreh at a sale price of $1,950,000. The property consists of 18 units, with a price per unit (PPU) of $108,333. The cap rate for the property is 3.9%, and the projected cap rate is 6.5%. The asking price for the property was $2,499,999.

Summary of transaction details

• Property Type: Mixed-use
• Transaction Amount: $1,950,000
• Address: 2108-2110 2nd Avenue, East Harlem
• Market: East Harlem
• Sellers: The Cappi Family
• Buyer: Arman Noghreh
• Brokers: Anthony Musso, Anthony Yacovone, Thomas Valderrama
• Units: 18
• Price per Unit (PPU): $108,333
• Asking Price: $2,499,999
• Cap Rate: 3.9%
• Projected Cap Rate: 6.5%

The deal involved multiple brokers including Anthony Musso, Anthony Yacovone, and Thomas Valderrama.