@9300Realty Acquires Mixed-Use Property In Harlem For $2.05M
2154 2nd Ave, New York, NY 10029, USA
$2,050,000
$20/SF
Building Size
98,250 SF
Asset Type
Mixed-use
Closing
Jan 8, 2020
About this deal
AI
The asset involved in this transaction is a mixed-use property located at 2154 Second Avenue in the Harlem market. The property consists of 9,825 square feet and features 18 units, which include 1 commercial unit and 17 residential units, all classified as rent-stabilized. The sale price for this property was $2,050,000, resulting in a price per square foot of $209 and a price per unit of $113,888.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $2,050,000
- Square Footage: 9,825
- Units: 18 Units – 1 Commercial, 17 Residential (100% RS)
- Price per Square Foot: $209
- Price per Unit: $113,888
- Seller: Chris Cappi
- Buyer: @9300Realty
- Brokers: Peter Von Der Ahe, Seth Glasser, Steven Croman, Jacob Kahn, Haley Hasho
This transaction involved multiple brokers representing the buyer and seller. The collaboration included Peter Von Der Ahe, Seth Glasser, and several others who facilitated this property deal. The asset was acquired by the buyer, @9300Realty, from seller Chris Cappi, emphasizing a strategic move in the Harlem market.
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
7.74%
Cash-on-Cash
-2.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93