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1882 Park Avenue

Peter Stefanopoulos Sells Office Property At 1882 Park Avenue In East Harlem For $1.85M
SOLDOffice

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

Anthony Volman

Highcap Group

Broker

$5.1M

vol

11 deals

Broker

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