Prana Investments Acquires Multifamily Portfolio In Central Harlem For $80.6K At $170 PPSF
SOLD
$13,750,000
New York
See Similar DealsMultiFamily80,617 SF
Sold 04/14/2020
SOLD
Prana Investments Acquires Multifamily Portfolio In Central Harlem For $80.6K At $170 PPSF
216 W 141st St, New York, NY 10030, USA
See Similar DealsMultiFamily80,617 SF
Sold 04/14/2020
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$170
Total Square Footage:80,617 SF
Transaction Type:Sale
A multifamily property transaction has taken place in Central Harlem. The property is located at 55 West 129th Street, 216 West 141st Street, 224 West 141st Street, 2570 Adam C Powell Blvd, 2572 Adam C Powell Blvd, and 144 West 144th Street.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $80,617
- Price per Square Foot: $170
- Number of Units: 105
- Price per Unit: $130,952
The buyer of the property is Prana Investments, and the seller is Martin Kirzner.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$733,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$48,850.86
Cash-on-Cash Return-1.27%
Monthly Debt Service$65,182.01
Annual Debt Service$782,184.18
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