Yehuda Cohen Acquires Mixed-Use Property In Harlem From Abraham Kassin For $2.5M
228 Malcolm X Blvd, New York, NY 10027, USA
$2,500,000
$419/SF
Building Size
5,962 SF
Asset Type
Mixed-use
Closing
Mar 11, 2020
AI
The property involved in this transaction is a mixed-use asset located at 228 Lenox Avenue in Harlem. The total square footage of the asset is 5,962, and it consists of 4 units. The asking price was set at $2,725,000, while the sale price concluded at $2,500,000, resulting in a price per square foot of $419 and a price per unit of $625,000.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $2,500,000
- Address: 228 Lenox Avenue
- Market: Harlem
- Square Footage: 5,962
- Price Per Square Foot: $419
- Units: 4
- Price Per Unit: $625,000
- Seller: Abraham Kassin
- Buyer: Yehuda Cohen
- Broker Representatives: Josh Lipton & Andrew Levine – Invictus Property Advisors
Abraham Kassin sold the mixed-use property to Yehuda Cohen, with Josh Lipton and Andrew Levine of Invictus Property Advisors representing the seller in this transaction. This highlights the key players involved in finalizing the deal.
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
6.35%
Cash-on-Cash
-1.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93