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369 West 126th Street, New ...

Joseph Aizer Acquires Multifamily Property In Harlem For $5.7M
SOLDMultiFamily

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

Victor Sozio

Ariel Property Advisors

Broker

$2.4B

vol

115 deals

Broker

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