Monadnock Development Acquires Central Harlem Multifamily For $17.5M
SOLD
$17,465,000
+ 1
New York
See Similar DealsMultiFamily36,935 SF
Sold 12/19/2019
SOLD
Monadnock Development Acquires Central Harlem Multifamily For $17.5M
111 West 141st Street, Manhattan, New York, NY, USA
See Similar DealsMultiFamily36,935 SF
Sold 12/19/2019
+ 1
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$472
Total Square Footage:36,935 SF
Transaction Type:Sale
A multifamily property located at 111 & 148 W 141st Street in Central Harlem has been sold for $17,465,000. The property consists of 89 units and spans a total of 36,935 square feet. The sale price per square foot is $473. The transaction took place on December 19, 2019.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $17,465,000
- Address: 111 & 148 W 141st Street
- Market: Central Harlem
- Number of Units: 89
Aulder Capital, represented by Michael Zito, served as the seller in this transaction. The buyer was Monadnock Development, represented by Amy Stokes and Pierre Downing. Avison Young, with Sam Schertz, James Nelson, and Allan Fries as brokers, facilitated the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$931,466.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$62,049.46
Cash-on-Cash Return-1.27%
Monthly Debt Service$82,793.01
Annual Debt Service$993,516.12
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