Ariel Property Advisors Represents Multifamily Sale In Central Harlem For $5.7M
SOLD
$5,700,000
+ 1
New York
See Similar DealsMultiFamily18,000 SF
Sold 01/19/2022
SOLD
Ariel Property Advisors Represents Multifamily Sale In Central Harlem For $5.7M
112 West 116th Street, New York, NY 10026
See Similar DealsMultiFamily18,000 SF
Sold 01/19/2022
+ 1
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$316
Total Square Footage:18,000 SF
Transaction Type:Sale
The multifamily property located at 112-114 West 116th Street in Central Harlem, Manhattan, has been sold for a total price of $5,700,000. The property consists of 19 units with an average price per unit of $300,000. It spans a total area of 18,000 square feet, resulting in a price per square foot of $316. The transaction took place on January 19, 2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $5,700,000
- Units: 19
- Price Per Unit: $300,000
- Square Footage: 18,000
- Price Per Square Foot: $316
- Market: Central Harlem, Manhattan
The sale of this multifamily property was facilitated by Victor Sozio, Mark Anderson, Alexander Taic, and Michael Tortorici from Ariel Property Advisors. They represented the parties involved in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$304,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$20,250.89
Cash-on-Cash Return-1.27%
Monthly Debt Service$27,020.91
Annual Debt Service$324,250.90
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