ABJ Properties Acquires Multifamily Property In Harlem For $7.8M
2913 Frederick Douglass Blvd, New York, NY 10039, USA
$7,800,000
$194/SF
Building Size
40,067 SF
Asset Type
MultiFamily
Closing
Jun 23, 2019
AI
A multifamily property located at 2913-2922 Frederick Douglass Blvd in Harlem has been sold for a total of $7,800,000. The property spans across 40,067 square feet, resulting in a price per square foot of $194. The transaction took place on June 24, 2019.
Summary of transaction details
- Property Type: Multifamily
- Sale Price: $7,800,000
- Square Footage: 40,067
- Price per Square Foot: $194
- Address: 2913-2922 Frederick Douglass Blvd, Harlem
- Market: Harlem
The seller of this property was Ron Moelis, who represents L+M Development Partners. The buyer, on the other hand, was Ben Soleimani, who represents ABJ Properties. The transaction was facilitated by Amit Doshi, Jonathan Shainberg, and Shallini Mehra from TeamDoshi, who are part of Meridian Capital Group.
Players
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
2.03%
Cash-on-Cash
-0.58%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93