Sugar Hill Capital Partners Acquires Harlem Portfolio Apartments For $250M
120 West 112th Street, Manhattan, New York, NY, USA
$250,000,000
$49,544/SF
Building Size
5,046 SF
Asset Type
MultiFamily
Closing
Dec 17, 2018
AI
The property involved in this transaction is part of the Harlem Portfolio located at 120 West 112th Street in Harlem. It is an apartment asset and was sold for a price of $250,000,000.
Summary of transaction details:
- Property Type: Apartments
- Transaction Amount: $250,000,000
- Seller: Irving Langer - E&M Associates
- Buyer: Sugar Hill Capital Partners
- Broker: Steven Vegh - Westwood Realty Associates
- Date: 12/18/2018
- Market: Harlem
The seller in this transaction was Irving Langer, representing E&M Associates. The buyer was Sugar Hill Capital Partners. The broker responsible for the deal was Steven Vegh from Westwood Realty Associates.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.06%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93