Updated Oct 29, 2024
Friedman MGMT Corp & Gibraltar MGMT JV Acquire 8-Unit Multi Family In Harlem For $1.87M
102 Edgecombe Ave, New York, NY 10030, USA
Building Size
38,200 SF
Asset Type
MultiFamily
Closing
Jun 17, 2018
About this deal
AI
Located in Harlem, NYC, the multi-family property at 313 W. 138th St has recently been sold for a price of $1,870,000. With a total square footage of 3,636, the property is priced at an average of $514 per square foot. The property consists of 8 units, with each unit having an average price of $233,000.
Summary of transation details
- Property Type: Multi Family
- Transaction Amount: $1,870,000
- Square Footage: 3,636
- Price per Square Foot: $514
- Number of Units: 8
- Price per Unit: $233,000
- Location: 313 W. 138th St, Harlem, NYC
The seller of the property is Carol Marlowe, while the buyer is Friedman MGMT Corp, & Gibraltar MGMT JV. The buyer was represented by Harlan Simon, while Brian Silvestry served as the seller's representative in the transaction.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93