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
- Property Type: Mixed-Use
- Transaction Amount: $4,390,000
- Buyer: The Mizrahi Family
- Seller: Garrett Realty Corp - The Augusto/Gluck Families
- Brokers: Josh Lipton, Andrew Levine & Jax Hindmarch representing Invictus Property Advisors
- Market: Harlem, Manhattan
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
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