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102 Edgecombe Ave, New York...

Friedman MGMT Corp & Gibraltar MGMT JV Acquire 8-Unit Multi Family In Harlem For $1.87M
SOLDMultiFamily

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

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.

Players

Andrew Levine

Invictus Property Advisors

Broker

$453.3M

vol

67 deals

Broker
FC
Friedman MGMT CorpBuyer

Carol Marlowe

Seller

2 deals

Seller

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

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