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457 W 150th St #459, New Yo...

Xavier Jimenez Acquires Vacant Elevator Parking Garage In Harlem For $6.3M
SOLDOther

Xavier Jimenez Acquires Vacant Elevator Parking Garage In Harlem For $6.3M

457 W 150th St #459, New York, NY 10031, USA

Building Size

192,000 SF

Asset Type

Other

Closing

Mar 29, 2018

AI

A vacant elevator parking garage located at 457-459 West 150th Street in Harlem, New York has been sold in a closed transaction for a price of $6,300,000. The property spans an area of 19,200 square feet and is primed for conversion. The building dimensions measure 50 by 96 feet. The seller of the property was @PlatinumRealtyNYC, represented by David Koptiev, while the buyer was Xavier Jimenez.

Summary of transaction details

  • Property Type: Vacant Elevator Parking Garage – Prime For Conversion
  • Transaction Amount: $6,300,000
  • Square Footage: 19,200 sf
  • Address: 457-459 West 150th Street, Harlem, New York

The transaction was facilitated by ONE Commercial, with Josh Lipton, Andrew Levine, and David Koptiev serving as brokers. They played a key role in bringing the buyer and seller together to complete the deal successfully.

Players

Andrew Levine

Invictus Property Advisors

Broker

$453.3M

vol

67 deals

Broker

Xavier Jimenez

Buyer

$3.1M

vol

3 deals

Buyer

David Koptiev

Seller

$44.9M

vol

10 deals

Seller

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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93