Jeremiah Lucey & Rick Rosan Acquire Multifamily Property In Harlem For $19.25M
SOLD
$19,250,000
New York
See Similar DealsMultiFamily39,000 SF
Sold 12/14/2018
SOLD
Jeremiah Lucey & Rick Rosan Acquire Multifamily Property In Harlem For $19.25M
112 West 138th Street, New York, NY, USA
See Similar DealsMultiFamily39,000 SF
Sold 12/14/2018
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$493
Total Square Footage:39,000 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,026,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$68,391.18
Cash-on-Cash Return-1.27%
Monthly Debt Service$91,254.82
Annual Debt Service$1,095,057.85
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