Joseph Aizer Acquires Multifamily Property In Harlem For $5.7M
369 West 126th Street, New York City, New York 10027, United States
$5,735,000
$510/SF
Building Size
11,238 SF
Asset Type
MultiFamily
Closing
May 12, 2022
AI
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.
Players
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
2.77%
Cash-on-Cash
-0.79%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93