Updated Dec 19, 2023
George Aryeh Acquires East Harlem Multifamily From Pasquale Palmieri For $3M
503 E 116th St, New York, NY 10029, USA
$3,000,000
$381/SF
Building Size
7,875 SF
Asset Type
MultiFamily
Closing
Jul 13, 2020
About this deal
AI
The multifamily property located at 503 East 116th Street in East Harlem was sold on July 14, 2020. The property consists of 9 units and has a total square footage of 7,875. The sale price for this transaction was $3,000,000, resulting in a price per square foot of $380.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,000,000
- Sale Date: 07/14/2020
- Address: 503 East 116th Street
- Market: East Harlem
- Buyer: George Aryeh
- Seller: Pasquale Palmieri
- Square Footage: 7,875
- Price per Square Foot: $380
- Units: 9
George Aryeh represented the buyer in this transaction. The seller, Pasquale Palmieri, enlisted their own representative for the deal.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Browse New York multifamily sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.29%
Cash-on-Cash
-1.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93