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310-314 East 112th Street N...

Nasir Sasouness Acquires East Harlem MultiFamily For $2.15M
SOLDMultiFamily

Nasir Sasouness Acquires East Harlem MultiFamily For $2.15M

310-314 East 112th Street New York, New York 10029, USA

$2,150,000

Building Size

Asset Type

MultiFamily

Closing

Jul 13, 2023

AI

Nasir Sasouness has purchased two adjacent walkup buildings with a total of 49 units located at 310-314 East 112th Street in East Harlem, Manhattan. The transaction was completed for a total price of $4.3 million, with a per unit price of $48,878.

Summary of transaction details

  • Property Type: MultiFamily
  • Transaction Amount: $4,300,000
  • Address: 310-314 East 112th Street, East Harlem, Manhattan
  • Number of Units: 49
  • Buyer: Nasir Sasouness
  • Seller: Vincent Garrow

This significant purchase by Nasir Sasouness adds to his real estate portfolio in East Harlem. The acquisition of these two buildings not only expands his holdings but also positions him as a key player in the multi-family property market in the area.

Players

Nasir Sasouness

Buyer

$10.4M

vol

3 deals

Buyer

Vincent Garrow

Seller

$47.2M

vol

3 deals

Seller

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

7.38%

Cash-on-Cash

-2.11%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93