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241 Malcolm X Boulevard

Seth Newman Purchases Office At 241 Malcolm X Boulevard From Bill Serbin For $1.2M
SOLDOffice

Seth Newman Purchases Office At 241 Malcolm X Boulevard From Bill Serbin For $1.2M

241 Malcolm X Boulevard

$1,200,000

$916/SF

Building Size

1,309 SF

Asset Type

Office

Closing

Jan 16, 2025

AI

The asset involved in this transaction is an office located at 241 Malcolm X Boulevard in the Harlem market of Manhattan. The sale price for the property was $1,200,000, encompassing a total square footage of 1,309. The price per square foot amounted to $916.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $1,200,000
  • Address: 241 Malcolm X Boulevard
  • Market: Harlem, Manhattan
  • Square Footage: 1,309
  • Price Per Square Foot: $916
  • Buyer: Seth Newman
  • Seller: Bill Serbin
  • Broker: Ariel Ben Ezra - Wingate Advisors

The transaction involved Seth Newman as the buyer and Bill Serbin as the seller. Ariel Ben Ezra from Wingate Advisors represented the buyer in this deal.

Players

Ariel Ben Ezra

Wingate Advisors

Broker

$93.6M

vol

8 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

13.22%

Cash-on-Cash

-3.78%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93