L&M Development Partners Acquires 1890 Lexington Avenue In East Harlem For $23.7M
1890 Lexington Ave, New York, NY 10035, USA
$23,700,000
$658/SF
Building Size
36,000 SF
Asset Type
Other
Closing
Oct 31, 2019
About this deal
AI
The property at 1890 Lexington Avenue in East Harlem has been sold in a closed transaction. The buyer, L+M Development Partners, purchased the property from the seller, Brookfield Asset Management, for a price of $23,700,000. The property spans 36,000 square feet, resulting in a price per square foot of $658. It consists of 64 units, with each unit having a price per unit of $370,000.
Summary of transaction details
- Property Type: N/A
- Transaction Amount: $23,700,000
- Square Footage: 36,000
- Price per Square Foot: $658
- Number of Units: 64
- Price per Unit: $370,000
The deal was facilitated by the representatives of L+M Development Partners and Brookfield Asset Management. Please note that no additional information is available regarding the individuals and companies involved in the transaction.
Players
New York Other Market Snapshot
Boundary boundary · Other · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.67%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93