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112 West 138th Street, New ...

Jeremiah Lucey & Rick Rosan Acquire Multifamily Property In Harlem For $19.25M
SOLDMultiFamily

Jeremiah Lucey & Rick Rosan Acquire Multifamily Property In Harlem For $19.25M

112 West 138th Street, New York, NY, USA

$19,250,000

$493/SF

Building Size

39,000 SF

Asset Type

MultiFamily

Closing

Dec 13, 2018

AI

A multifamily property located at 112 West 138th Street in Harlem has been sold for $19,250,000. The property spans 39,000 square feet and has a price per square foot of $493. The transaction took place on 12/14/2018. The property generates a gross income of $1,000,000.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $19,250,000
  • Address: 112 West 138th Street
  • Market: Harlem

The seller of the property is Michael V. Coratolo, while the buyers are Jeremiah Lucey and Rick Rosan. The transaction was facilitated by broker Jim Mann from Friedman-Roth Realty Services. Notably, Jim Mann represented both the buyers and the seller in this deal.

Players

Jim Mann

Friedman-Roth Realty

Broker

$64.9M

vol

8 deals

Broker

Jeremiah Lucey

Buyer

$25.5M

vol

2 deals

Buyer

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

0.82%

Cash-on-Cash

-0.24%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93