Updated Oct 29, 2024
Palladium Group Acquires Harlem Multifamily Properties For $5.77M
523 W 138th St, New York, NY 10031, USA
$5,765,547
$12/SF
Building Size
460,120 SF
Asset Type
MultiFamily
Closing
Jan 6, 2020
About this deal
AI
A multifamily property located at 523 W 138th St., 524 W 134th St., and 509 W 134th St. in Harlem has been sold. The property spans a total area of 46,012 square feet and consists of 63 units. The asking price for the property was $6,000,000, and it was eventually sold for $5,765,547, at a price per square foot of $125. The price per unit was $91,500.
Summary of transaction details:
- Property Type: Multifamily
- Sale Price: $5,765,547
- Square Footage: 46,012
- Units: 63
The seller of the property was Eugene Cundelan, and the buyer was Palladium Group, represented by Abraham Miller. The deal was facilitated by broker David Gerstel.
On the Map
$5,765,547
$12/SF
MultiFamily
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Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.75%
Cash-on-Cash
-0.79%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93