Ariel Property Advisors Facilitates $6M Sale Of East Harlem Multifamily Property
SOLD
$6,000,000
+ 1
New York
See Similar DealsMultiFamily21,100 SF
Sold 01/28/2022
SOLD
Ariel Property Advisors Facilitates $6M Sale Of East Harlem Multifamily Property
524 East 119th Street, New York City, New York 10035, United States
See Similar DealsMultiFamily21,100 SF
Sold 01/28/2022
+ 1
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$284
Total Square Footage:21,100 SF
Transaction Type:Sale
Located in East Harlem, Manhattan, the multifamily building at 524 East 119th Street has been sold for a total of $6,000,000. This property consists of 35 units, with a price per unit of $171,429. Spanning across 21,100 square feet, the building has a price per square foot of $284.
Summary of Transaction Details:
- Property Type: Multifamily
- Transaction Amount: $6,000,000
- Units: 35
- Price per Unit: $171,429
- Square Footage: 21,100
- Price per Square Foot: $284
- Address: 524 East 119th Street, East Harlem, Manhattan
- Market: East Harlem, Manhattan
Ariel Property Advisors, represented by Victor Sozio, Mark Anderson, Michael Tortorici, and Jack Moran, facilitated the sale of this property.
Additionally, Ariel Property Advisors also facilitated the sale of the cell antenna income in the form of a telecommunications easement to another buyer in order to maximize the price for the seller.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$319,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$21,316.74
Cash-on-Cash Return-1.27%
Monthly Debt Service$28,443.06
Annual Debt Service$341,316.73
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