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2368 Adam Clayton Powell Jr...

Joseph Jemal Of ICER Real Estate Acquires Mixed-Use Property In Harlem For $2.65M
SOLDMixed-use

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

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.

Players

Lev Mavashev

Alpha Realty

Broker

$742M

vol

106 deals

Broker
Joseph L. Jemal

Joseph L. Jemal

ICER Properties

Buyer

$598.7M

vol

36 deals

Buyer

Steven Gross

Seller

$6M

vol

2 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

5.99%

Cash-on-Cash

-1.71%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93