Marcus & Millichap Sells Multifamily Asset In Harlem For $3.5M
SOLD
$3,500,000
New York
See Similar DealsMultiFamily9,100 SF
Sold 01/20/2022
SOLD
Marcus & Millichap Sells Multifamily Asset In Harlem For $3.5M
274 West 119th Street
See Similar DealsMultiFamily9,100 SF
Sold 01/20/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$384
Total Square Footage:9,100 SF
Transaction Type:Sale
Located in Harlem, the multifamily property at 274 West 119th Street has recently changed hands in a closed transaction. The sale of this property was facilitated by brokers Seth Glasser and Jake Kahn from Marcus & Millichap. The deal was finalized on January 20, 2022, with a sale price of $3,500,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,500,000
- Address: 274 West 119th Street
- Market: Harlem
- Brokers: Seth Glasser & Jake Kahn - Marcus & Millichap
The property consists of 20 units, resulting in a price per unit (PPU) of $175,000. It spans across approximately 9,100 square feet, with a price per square foot (PPSF) of $384.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$186,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$12,434.75
Cash-on-Cash Return-1.27%
Monthly Debt Service$16,591.79
Annual Debt Service$199,101.43
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