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204 West 111th Street

Maurice Kohan Buys Multifamily Portfolio In Harlem For $5.65M
SOLDMultiFamily

Maurice Kohan Buys Multifamily Portfolio In Harlem For $5.65M

204 West 111th Street, 208 West 111th Street & 240 West 111th Street

$5,650,000

$43/SF

Building Size

130,662 SF

Asset Type

MultiFamily

Closing

Mar 29, 2024

AI

The multifamily portfolio located at 204, 208, and 240 West 111th Street in Harlem, Manhattan, was recently sold for $5,650,000. The property comprises a total of 56 units with a price per unit of $100,893. Spanning 43,554 square feet, the portfolio sold for $130 per square foot.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $5,650,000
  • Units: 56
  • Price Per Unit: $100,893
  • Square Footage: 43,554
  • Price Per Square Foot: $130
  • Address: 204, 208 & 240 West 111th Street Portfolio, Harlem, Manhattan

Maurice Kohan acquired the property from Chris Pesce. The deal was facilitated by the team of brokers from Marcus & Millichap, including Seth Glasser, Shaun Riney, Benny Katz, and Michael Fusco.

Players

Michael Fusco

Marcus & Millichap

Broker

$576.1M

vol

88 deals

Broker
Shaun Riney
Verified Badge

Shaun Riney

Marcus & Millichap

Broker

$1.8B

vol

358 deals

Broker

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

2.81%

Cash-on-Cash

-0.80%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93