Wonderworks Construction Corp Acquires Southeast Harlem Property From St. Cecilia & Holy Agony Roman Catholic Church For $13.4M With $7.5M Loan From Bank Leumi
SOLD
$13,400,000
New York
See Similar DealsOther8,092 SF
Sold 11/29/2020
SOLD
Wonderworks Construction Corp Acquires Southeast Harlem Property From St. Cecilia & Holy Agony Roman Catholic Church For $13.4M With $7.5M Loan From Bank Leumi
1834 3rd Ave, New York, NY 10029, USA
See Similar DealsOther8,092 SF
Sold 11/29/2020
Summary
NEW YORK
Asset Type:Other
Price Per Square Foot:$1,656
Total Square Footage:8,092 SF
Transaction Type:Sale
Located in Southeast Harlem, the property at 1834 Third Ave. was recently sold for a purchase price of $13,400,000. The deal included a loan amount of $7,500,000 from Bank Leumi. The transaction involved Wonderworks Construction Corp as the buyer and St. Cecilia & Holy Agony Roman Catholic Church as the seller.
Summary of transaction details
- Property Type: Not specified
- Transaction Amount: $13,400,000
- Loan Amount: $7,500,000
- Buyer: Wonderworks Construction Corp
- Seller: St. Cecilia & Holy Agony Roman Catholic Church
- Lender: Bank Leumi
The mortgage brokers involved in this transaction were Morris Betesh, Tamir Kazaz, and Alex Bailkin. No additional details were provided.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$714,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$47,607.36
Cash-on-Cash Return-1.27%
Monthly Debt Service$63,522.84
Annual Debt Service$762,274.04
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