SOLDOther
Artifact & Ashok Khubani Acquire Specialty Building In Harlem, Manhattan For $9M
116 Edgecombe Avenue, New York City, New York 10030, United States
$9,000,000
$1,794/SF
Building Size
5,015 SF
Asset Type
Other
Closing
Sep 12, 2022
About this deal
AI
A specialty building located at 116 Edgecombe Avenue in Harlem, Manhattan was recently sold for $9,000,000. The building spans a total area of 5,015 square feet, resulting in a price per square foot of $1,794. The transaction took place on September 13, 2022.
Summary of transaction details
- Property Type: Specialty building
- Transaction Amount: $9,000,000
- Address: 116 Edgecombe Avenue, Harlem, Manhattan
- Market: Harlem, Manhattan
- Buyer: Artifact & Ashok Khubani
- Seller: GF Capital Management
- Square Footage: 5,015
- Price per Square Foot: $1,794
The buyer of the specialty building at 116 Edgecombe Avenue in Harlem, Manhattan is Artifact & Ashok Khubani. They acquired the property from GF Capital Management. With a transaction price of $9,000,000 and a total area of 5,015 square feet, the property was valued at $1,794 per square foot.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.76%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93