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502 West 135th Street, Manh...

Steven Kachanian, Jacob Namdar, & Adam Hajibai Acquire West Harlem Multifamily For $3.6M
SOLDMultiFamily

Steven Kachanian, Jacob Namdar, & Adam Hajibai Acquire West Harlem Multifamily For $3.6M

502 West 135th Street, Manhattan, New York, NY, USA

$3,600,000

$189/SF

Building Size

19,000 SF

Asset Type

MultiFamily

Closing

Apr 11, 2019

AI

A multifamily property located at 502 W 135th St in West Harlem has been sold for $3,600,000. The property spans 19,000 square feet with a price per square foot of $189. It consists of 25 units, resulting in a price per unit of $144,000. The transaction took place on April 12, 2019.

Summary of transation details:

  • Property Type: Multifamily
  • Transaction Amount: $3,600,000
  • Square Footage: 19,000
  • Price per Square Foot: $189
  • Units: 25
  • Price per Unit: $144,000
  • Address: 502 W 135th St, West Harlem

The buyers of the property are Steven Kachanian, Jacob Namdar, and Adam Hajibai, represented by Klosed Properties. The seller is the Pecora Family. Jack Zalta from Rosewood Realty Group acted as the broker in this transaction.

Players

Jack Zalta

Kassin Sabbagh Realty

Broker

$173.6M

vol

23 deals

Broker
Rosewood Realty Group
Rosewood Realty GroupBrokerage
Adam Hajibai

Adam Hajibai

Klosed Properties

Buyer

$76.1M

vol

21 deals

Buyer

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

4.41%

Cash-on-Cash

-1.26%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93