Mendy Fleishman Acquires Mixed-Use Property In East Harlem For $3.7M
322 E 116th St, New York, NY 10029, USA
$3,700,000
$44/SF
Building Size
83,200 SF
Asset Type
Mixed-use
Closing
Mar 4, 2020
About this deal
AI
The mixed-use property located at 322-324 East 116th Street in East Harlem has recently changed hands in a closed transaction. This property offers a total square footage of 8,320, providing ample space for various potential uses. The asking price for this asset was set at $4,900,000, and it was ultimately sold for $3,700,000, resulting in a price per square foot (PPSF) of $444. The seller in this transaction was the Morrone Estate, while the buyer was Mendy Fleishman.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $3,700,000
- Market: East Harlem
- Address: 322-324 East 116th Street
- Total Square Footage: 8,320
- Asking Price: $4,900,000
- Price Per Square Foot (PPSF): $444
The brokers involved in this deal were Ben Kopilev and Itan Rahmani, representing VCPRE.
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
4.29%
Cash-on-Cash
-1.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93