Peter Stefanopoulos Sells Office Property At 1882 Park Avenue In East Harlem For $1.85M
1882 Park Avenue
$1,850,000
$463/SF
Building Size
3,990 SF
Asset Type
Office
Closing
Oct 30, 2024
AI
The property involved in this transaction is an office asset located at 1882 Park Avenue in the East Harlem market. The sale price was $1,850,000, with a total square footage of 3,990, resulting in a price per square foot of $463.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $1,850,000
- Address: 1882 Park Avenue
- Market: East Harlem
- Seller: Peter Stefanopoulos
- Broker: Anthony Volman - Highcap Group
- Square Footage: 3,990
- Price per Square Foot: $463
Peter Stefanopoulos was the seller of the property, while Anthony Volman from Highcap Group represented him in the transaction. This deal reflects the collaborative effort of key individuals and their respective companies in a successful office asset sale.
Players
New York Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
8.57%
Cash-on-Cash
-2.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93