Updated Oct 13, 2026
LIHC Investment Group And Camber Property Group Acquire Multifamily Property In East Harlem For $68M
2010 Lexington Avenue, New York City, New York 10035, United States
$68,000,000
$2,926/SF
Building Size
23,234 SF
Asset Type
MultiFamily
Closing
Jan 5, 2022
About this deal
AI
The multifamily property located at 2010 Lexington Ave in East Harlem has been sold in a closed transaction. The property is zoned as R7D and spans across a lot size of 6,560 square feet. The alteration permits for this property were obtained on May 12, 2010, indicating previous modifications. The lot dimensions measure approximately 65 feet by 100.92 feet.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $68,000,000
- Market: East Harlem
- Square Feet: 23,234
- Price Per Square Foot: $2,926
- Units: 229
- Price Per Unit: $296,943
The buyers of this property are LIHC Investment Group represented by Andrew Gendron and Camber Property Group represented by Rick Gropper. On the other hand, the seller of the property is Vitus Group. The transaction was facilitated by the respective buyer representatives from LIHC Investment Group and Camber Property Group.
On the Map
$68,000,000
$2,926/SF
MultiFamily
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New York MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.23%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93