Seth Newman Purchases Office At 241 Malcolm X Boulevard From Bill Serbin For $1.2M
SOLD
$1,200,000
New York
See Similar DealsOffice1,309 SF
Sold 01/16/2025
SOLD
Seth Newman Purchases Office At 241 Malcolm X Boulevard From Bill Serbin For $1.2M
241 Malcolm X Boulevard
See Similar DealsOffice1,309 SF
Sold 01/16/2025
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$916
Total Square Footage:1,309 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$64,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,263.34
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,688.61
Annual Debt Service$68,263.35
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