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.
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