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228 Malcolm X Blvd, New Yor...

Yehuda Cohen Acquires Mixed-Use Property In Harlem From Abraham Kassin For $2.5M
SOLDMixed-use

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 LevineInvictus 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

Andrew Levine

Invictus Property Advisors

Broker

$453.3M

vol

67 deals

Broker

Yehuda Cohen

Buyer

$43.6M

vol

11 deals

Buyer
Abraham Kassin

Abraham Kassin

Seller

$90.5M

vol

13 deals

Seller

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