facebook
Traded Co logo
Submit

HUBB NYC Acquires Multifamily In Harlem, Manhattan For $18.8M

Property Image
SOLD
$18,800,000
Joseph (Joe) Koicim
Benny Katz
Seth Glasser
+ 3

New York

See Similar Deals
MultiFamily72,324 SF
Sold 08/09/2023
the dealplayerscompscontact
Property Image
SOLD

HUBB NYC Acquires Multifamily In Harlem, Manhattan For $18.8M

2130 Adam Clayton Powell Jr Blvd New York, NY 10027, USA

See Similar Deals
MultiFamily72,324 SF
Sold 08/09/2023
Joseph (Joe) Koicim
Benny Katz
Seth Glasser
+ 3
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$259
Total Square Footage:72,324 SF
Transaction Type:Sale

A multifamily property located at 2130 Adam Clayton Powell Junior Boulevard in Harlem, Manhattan has been sold for a price of $18,800,000. This property consists of 48 units, with an average price per unit of $391,667. The total square footage of the property is 72,324, resulting in a price per square foot of $260.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $18,800,000
  • Address: 2130 Adam Clayton Powell Junior Boulevard, Harlem, Manhattan
  • Market: Harlem, Manhattan
  • Units: 48
  • Price per Unit: $391,667
  • Square Footage: 72,324
  • Price per Square Foot: $260

The buyer in this transaction is HUBB NYC, represented by Jesse Terry. The brokerage team involved in the deal includes Joe Koicim, Seth Glasser, Michael Fusco, Shaun Riney, and Benny Katz from Marcus & Millichap.

Players

Michael (Mike) Fusco
Marcus & Millichap
Michael Fusco
88 deals$576.1M volume(973) 865-6303
BROKER
Seth Glasser
Marcus & Millichap
Seth Glasser
125 deals$1.1B volume
BROKER
Joseph (Joe) Koicim
Marcus & Millichap
Joseph Koicim
172 deals$2.7B volume(212) 430-5147
BROKER
Shaun Riney
Marcus & Millichap
Shaun Riney
355 deals$1.8B volume(718) 475-4369
BROKER
Benny Katz
Marcus & Millichap
Benny Katz
34 deals$232.9M volume
BROKER
Jesse Terry
HUBB NYC
Jesse Terry
10 deals$421.4M volume
BUYER

Details

SOLD
IMAGE: Joe Koicim, Michael Fusco, Seth Glasser, Jesse Terry, Shaun Riney & Benny Katz DATE: 08/09/2023 ADDRESS: 2130 Adam Clayton Powell Junior Boulevard MARKET: Harlem, Manhattan ASSET TYPE: Multifamily BUYER: HUBB NYC (@HUBBNYC) - Jesse Terry BROKERS: Joe Koicim (@Joey1cap), Seth Glasser (@SethGlasser1), Michael Fusco (@Mike_Fusco_NYM), Shaun Riney (@ShaunRiney1) & Benny Katz (@Bbbeniss_2k) - Marcus & Millichap (@MarcusMillichap_NY) SALE PRICE: $18,800,000 UNITS: 48 ~ PPU: $391,667 SF: 72,324 ~ PPSF: $260

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)

$1,002,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$66,792.42
Cash-on-Cash Return-1.27%
Monthly Debt Service$89,121.59
Annual Debt Service$1,069,459.10