Joseph Jemal Acquires Mixed-Use Property In Harlem For $1.125M
2366 Adam Clayton Powell Jr Blvd, New York, NY 10030, USA
$1,125,000
$246/SF
Building Size
4,560 SF
Asset Type
Mixed-use
Closing
Jun 29, 2020
About this deal
AI
A mixed-use property located at 2366 Adam C Powell Blvd in the Harlem market has been sold in a recent transaction. The property consists of 10 residential units, specifically Single Room Occupancy (SRO) units, and 2 retail units. The total square footage of the property is 4,560, resulting in a price per square foot of $246. The asking price for the property was $1,990,000, but it was ultimately sold for $1,125,000. This translates to a price per unit of $93,750. The seller of the property was Valerie Draft.
Summary of Transaction Details:
- Property Type: Mixed-use
- Transaction Amount: $1,125,000
- Market: Harlem
- Square Footage: 4,560
- Asking Price: $1,990,000
- Price per Square Foot: $246
- Units: 10 residential (SRO) & 2 retail
- Price per Unit: $93,750
- Seller: Valerie Draft
In this transaction, the buyer of the property was Joseph Jemal, representing Icer Properties. The deal was facilitated by brokers Lev Mavashev and Yehuda Leser, who are associated with Alpha Realty NY.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
Loading comparables…
Deal FAQ
Visit Yehuda Leser to view all their deals.
Browse New York mixed use sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
14.10%
Cash-on-Cash
-4.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93