Ariel Property Advisors Sells Multifamily Asset At 1951 Park Avenue East Harlem For $29.19M
SOLD
$29,186,030
+ 2
New York
See Similar DealsMultiFamily179,616 SF
Sold 12/30/2025
SOLD
Ariel Property Advisors Sells Multifamily Asset At 1951 Park Avenue East Harlem For $29.19M
1951 Park Avenue
See Similar DealsMultiFamily179,616 SF
Sold 12/30/2025
+ 2
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$162
Total Square Footage:179,616 SF
Transaction Type:Sale
The property asset involved in the transaction is a multifamily building located at 1951 Park Avenue in the East Harlem market. The sale price of the property was $29,186,030, featuring a total of 175 units. The overall square footage of the asset is 179,616, resulting in a price per unit of $166,777 and a price per square foot of $162.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $29,186,030
- Units: 175
- Square Footage: 179,616
- Price Per Unit: $166,777
- Price Per Square Foot: $162
Key individuals involved in the transaction include Victor Sozio, Shimon Shkury, Alexander Taic, Jake Brody, and Remi Mandell, all representing Ariel Property Advisors in this sale.
Players
BROKERAGE
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,556,588.27
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$103,691.80
Cash-on-Cash Return-1.27%
Monthly Debt Service$138,356.67
Annual Debt Service$1,660,280.07
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