Updated Oct 28, 2024
Skyline Management Acquires Multifamily Property In East Harlem For $7.55M
318 East 126th Street, New York City, New York 10035, United States
$7,550,000
$215/SF
Building Size
35,000 SF
Asset Type
MultiFamily
Closing
Aug 7, 2022
About this deal
AI
Located in East Harlem, the multifamily property at 318, 320, 322, and 324 E. 126th St. has been sold in a recent transaction. The property consists of 68 units and spans a total area of 35,000 square feet. The sale price for this asset was $7,550,000, resulting in a price per unit of $111,029 and a price per square foot of $215.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $7,550,000
- Units: 68
- Price per Unit: $111,029
- Square Footage: 35,000
- Price per Square Foot: $215
- Market: East Harlem
Skyline Management, represented by their broker, was the buyer in this transaction, while Sharp Management represented the seller. This deal underscores the ongoing investment activity in East Harlem's real estate market.
On the Map
$7,550,000
$215/SF
MultiFamily
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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
2.10%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93