Rob Yaffa Sells Mixed-Use Property In Washington Heights For $4.3M
SOLD
$4,300,000
+ 1
New York
See Similar DealsMixed-use21,368 SF
Sold 03/26/2021
SOLD
Rob Yaffa Sells Mixed-Use Property In Washington Heights For $4.3M
537 Edgecombe Avenue, New York, NY 10032, USA & 537 Edgecombe Avenue, New York, NY 10032, USA
See Similar DealsMixed-use21,368 SF
Sold 03/26/2021
+ 1
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$201
Total Square Footage:21,368 SF
Transaction Type:Sale
The mixed-use property located at 537 Edgecombe Ave in Washington Heights was recently sold for a total price of $4,300,000. The property spans 10,684 square feet with a price per square foot of $402. It consists of 12 units, with an average price per unit of $358,333. The sale was finalized on March 26, 2021.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $4,300,000
- Address: 537 Edgecombe Ave
- Market: Washington Heights
- Zoning: R7-2
The seller of the property was Rob Yaffa. The deal was facilitated by brokers Peter Von Der Ahe, Joe Koicim, Seth Glasser, and Jake Kahn from New York Multifamily and Marcus & Millichap New York.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$229,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$15,277.01
Cash-on-Cash Return-1.27%
Monthly Debt Service$20,384.19
Annual Debt Service$244,610.33
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