Sharon Colburn Acquires Multifamily Property In Harlem, Manhattan For $25.2M

Located in Harlem, Manhattan, the property at 2328 Twelfth Avenue recently changed hands in a successful sale transaction. With a zoning designation of M1-2 and MMU, this multifamily asset offers a range of possibilities for its future use. The sale took place on December 30, 2021, with Sharon Colburn purchasing the property from Howard Glickberg for a price of $25,200,000.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $25,200,000
• Address: 2328 Twelfth Avenue
• Market: Harlem, Manhattan
• Zoning: M1-2, MMU

The property spans a total square footage of 41,444, offering ample space for multifamily use. With a building square footage (BSF) of 69,444, the property has a price per BSF of $362. The price per square foot (PPSF) stands at $608, reflecting the value of the asset. The property's floor area ratio (FAR) is 1.20, and it falls under tax class 4.

Spanning a lot size of 34,537 square feet, the property at 2328 Twelfth Avenue underwent alteration permits on August 18, 2021. The lot dimension measures 25.25 feet by 77.25 feet, providing a suitable space for the multifamily development.

This successful transaction showcases the significance of the property at 2328 Twelfth Avenue in the Harlem, Manhattan market. The involvement of Sharon Colburn as the buyer and Howard Glickberg as the seller highlights the key individuals behind this deal. Both parties played a crucial role in the successful completion of this transaction, ensuring a smooth transition of ownership.