Joseph Aizer Acquires Multifamily Property In Harlem For $5.7M
SOLD
$5,735,000
New York
See Similar DealsMultiFamily11,238 SF
Sold 05/13/2022
SOLD
Joseph Aizer Acquires Multifamily Property In Harlem For $5.7M
369 West 126th Street, New York City, New York 10027, United States
See Similar DealsMultiFamily11,238 SF
Sold 05/13/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$510
Total Square Footage:11,238 SF
Transaction Type:Sale
A multifamily property located at 369 West 126th Street in Harlem, Manhattan has been sold for $5,735,000. The property consists of 11 units with a total square footage of 11,238. The sale price per unit was $521,364, and the price per square foot was $510.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $5,735,000
- Address: 369 West 126th Street
- Market: Harlem, Manhattan
Joseph Aizer is the buyer of the property, while King Penguin Opportunity Fund, LLC represented by Michael Mikelic acted as the seller. The transaction was facilitated by Victor Sozio, James Nestor, and Evan Hirsch of Ariel Property Advisors, who represented the parties involved in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$305,866.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$20,375.24
Cash-on-Cash Return-1.27%
Monthly Debt Service$27,186.83
Annual Debt Service$326,241.91
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