Howard Hershkovich Acquires Multifamily Property In Harlem For $11M

The property at 362 West 116 Street in Harlem has been sold in a recent transaction for a price of $11,000,000. The multifamily asset is zoned as R7A and has a buildable square footage (BSF) of 37,844, with a price per buildable square footage (PPBSF) of $290. The total square footage of the property is 34,060, and the price per square footage (PPSF) is $322. The lot size is 9,461 square feet, and the lot dimensions are 93.75 ft x 100.92 ft. The property falls under tax class 2 and has a floor area ratio (FAR) of 3.60. The property had alteration permits issued on June 24, 2014.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $11,000,000
• BSF: 37,844
• PPBSF: $290
• SF: 34,060
• PPSF: $322
• Lot Size: 9,461
• Lot Dimensions: 93.75 ft x 100.92 ft
• Tax Class: 2
• FAR: 3.60
• Permits: ALTERATION 2 (06/24/2014)

The buyer of the property is Howard Hershkovich, while the seller is Mitchell Hirth. The deal was closed on the specified date of 03/01/2021.