Joseph Jemal Of ICER Real Estate Acquires Mixed-Use Property In Harlem For $2.65M
2368 Adam Clayton Powell Jr Blvd, New York, NY 10030, USA
$2,650,000
$50/SF
Building Size
52,560 SF
Asset Type
Mixed-use
Closing
May 20, 2019
About this deal
AI
The mixed-use property located at 2368 Adam Clayton Powell in Harlem has been sold. The transaction took place on May 21, 2019. The property spans a total of 5,256 square feet and was sold for a price of $2,650,000, resulting in a price per square foot of $504.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $2,650,000
- Address: 2368 Adam Clayton Powell
- Market: Harlem
- Square Footage: 5,256
- Price per Square Foot: $504
The seller of the property was Steven Gross, who represented Adam Clayton Manor LLC. On the other hand, the buyer was Joseph Jemal, representing ICER Real Estate. The deal was facilitated by brokers Lev Mavashev and Shai Egison from ALPHA REALTY.
On the Map
$2,650,000
$50/SF
Mixed-use
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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
5.99%
Cash-on-Cash
-1.71%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93