Victor Sozio, Orry Michael, Adam Mermelstein, And Azi Mandel Acquire Mixed-Use Properties In Central Harlem For $16.4M
SOLD
$16,400,000
New York
See Similar DealsMixed-use46,945 SF
Sold 03/14/2018
SOLD
Victor Sozio, Orry Michael, Adam Mermelstein, And Azi Mandel Acquire Mixed-Use Properties In Central Harlem For $16.4M
2273 Adam Clayton Powell Jr Blvd, New York, NY 10030, USA
See Similar DealsMixed-use46,945 SF
Sold 03/14/2018
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$349
Total Square Footage:46,945 SF
Transaction Type:Sale
The mixed-use property located at 2261, 2267, 2269, and 2273 Adam Clayton Powell Boulevard and 2265 Adam Clayton Powell Jr. Boulevard in New York's Central Harlem neighborhood has been sold. The transaction closed on March 14, 2018. The property consists of four walk-up buildings and a vacant lot.
Summary of transaction details
- Property Type: Mixed-Use and Vacant
- Transaction Amount: $16,400,000
- Total Square Footage: 46,945
The deal was facilitated by the following individuals: Victor Sozio, Orry Michael, Adam Mermelstein, and Azi Mandel. These individuals represented the respective parties involved in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$874,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$58,265.73
Cash-on-Cash Return-1.27%
Monthly Debt Service$77,744.37
Annual Debt Service$932,932.40
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