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523 W 125th St New York, NY...

The Mizrahi Family Acquires Mixed-Use Property In Harlem, Manhattan For $4.39M
SOLDMixed-use

The Mizrahi Family Acquires Mixed-Use Property In Harlem, Manhattan For $4.39M

523 W 125th St New York, NY 10027, USA

$4,390,000

$322/SF

Building Size

13,605 SF

Asset Type

Mixed-use

Closing

Aug 11, 2023

AI

Located at 523-525 West 125th Street in Harlem, Manhattan, this mixed-use property was recently sold in a transaction facilitated by Invictus Property Advisors. The property spans a total area of 13,605 square feet, with a price per square foot of $323. The sale involved the Mizrahi Family as the buyers, while Garrett Realty Corp represented by the Augusto/Gluck Families acted as the sellers.

Summary of Transaction Details

Representing the Mizrahi Family as the buyers, this transaction marks a strategic acquisition in the vibrant neighborhood of Harlem. On the other side of the deal, the sellers were represented by the Augusto/Gluck Families from Garrett Realty Corp. The involvement of Invictus Property Advisors, with brokers Josh Lipton, Andrew Levine, and Jax Hindmarch, further facilitated the successful completion of the sale. This transaction not only highlights the growing interest in the mixed-use properties in Harlem but also showcases the Mizrahi Family's commitment to expanding their real estate portfolio.

Players

Andrew Levine

Invictus Property Advisors

Broker

$453.3M

vol

67 deals

Broker

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

3.61%

Cash-on-Cash

-1.03%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93