Artifact & Ashok Khubani Acquire Specialty Building In Harlem, Manhattan For $9M
SOLD
$9,000,000
New York
See Similar DealsOther5,015 SF
Sold 09/13/2022
SOLD
Artifact & Ashok Khubani Acquire Specialty Building In Harlem, Manhattan For $9M
116 Edgecombe Avenue, New York City, New York 10030, United States
See Similar DealsOther5,015 SF
Sold 09/13/2022
Summary
NEW YORK
Asset Type:Other
Price Per Square Foot:$1,794
Total Square Footage:5,015 SF
Transaction Type:Sale
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.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$480,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$31,975.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$42,664.59
Annual Debt Service$511,975.10
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