facebook
Traded Co logo
Submit

Lee Warshavsky Acquires Multi-Family Property In East Harlem, Manhattan For $18M

Property Image
SOLD
$18,000,000

New York

See Similar Deals
MultiFamily43,061 SF
Sold 11/19/2021
the dealplayerscompscontact
Property Image
SOLD

Lee Warshavsky Acquires Multi-Family Property In East Harlem, Manhattan For $18M

2071 Madison Avenue, New York City, New York 10037, United States

See Similar Deals
MultiFamily43,061 SF
Sold 11/19/2021
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$418
Total Square Footage:43,061 SF
Transaction Type:Sale

The property involved in this transaction is a multi-family asset located at 2071 Madison Avenue and 47 East 130 Street in East Harlem, Manhattan. It has a total square footage of 43,061 and a price per square foot of $418. The building has a total buildable square footage of 45,964, with a price per buildable square foot of $392. The property is zoned as R7A and falls under tax class 2. The lot size is 7,994 and has dimensions of 99.92 ft x 80 ft. The FAR (Floor Area Ratio) is 3.40. The previous sale of the property took place on December 18, 2009, for a price of $5,500,000.

Summary of transaction details:

  • Property Type: Multi Family
  • Transaction Amount: $18,000,000
  • Buyer: Lee Warshavsky
  • Seller: Eugene Schneur
  • Market: East Harlem, Manhattan

The buyer involved in this transaction is Lee Warshavsky, while the seller is Eugene Schneur. The deal was closed on November 19, 2021. These key individuals played a significant role in the successful completion of the transaction.

Players

4 deals$212.5M volume
BROKER

Details

SOLD
IMAGE: 11/19/2021 ADDRESS: 2071 Madison Avenue & 47 EAST 130 STREET MARKET: East Harlem,Manhattan ASSET TYPE: Multi Family ~ ZONING: R7A BUYER: Lee Warshavsky SELLER: Eugene Schneur PRICE: $18,000,000 BSF: 45,964 ~ PPBSF: $392 SF: 43,061 ~ PPSF: $418 FAR: 3.40 TAX CLASS: 2 LOT SIZE: 7,994 LAST SALE PRICE: $5,500,000 (12/18/2009) LOT DIMENSION: 99.92 ft x 80 ft

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$960,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$63,950.20
Cash-on-Cash Return-1.27%
Monthly Debt Service$85,329.18
Annual Debt Service$1,023,950.20