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Steven Neuman Acquires Retail Property In Harlem, Manhattan For $6.05M

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SOLD
$6,050,000

New York

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Retail15,028 SF
Sold 05/25/2021
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Property Image
SOLD

Steven Neuman Acquires Retail Property In Harlem, Manhattan For $6.05M

112 West 145th Street, Manhattan, New York, NY, USA

See Similar Deals
Retail15,028 SF
Sold 05/25/2021
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Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$402
Total Square Footage:15,028 SF
Transaction Type:Sale

The property involved in this transaction is located at 112 West 145 Street in Harlem, Manhattan. It is a retail asset with a zoning classification of C8-3. The property has a lot size of 15,987 square feet and lot dimensions of 160 ft x 99.92 ft. It received full demolition permits on January 27, 2021. The transaction took place on May 25, 2021.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $6,050,000
  • Buyer: Steven Neuman
  • Seller: Tracy Cohen
  • Market: Harlem, Manhattan
  • BSF: 31,974
  • PPBSF: $189
  • SF: 15,028
  • PPSF: $402
  • FAR: 0.94
  • Tax Class: 4

In this transaction, Steven Neuman purchased the property from Tracy Cohen for a price of $6,050,000. The buyer's representative in the deal was not mentioned in the provided information. The market for the property is located in Harlem, Manhattan. The property has a building square footage (BSF) of 31,974 and a price per building square foot (PPBSF) of $189. The total square footage (SF) of the property is 15,028 and the price per square foot (PPSF) is $402. The property has a floor area ratio (FAR) of 0.94 and is classified as tax class 4.

Players

6 deals$107.9M volume
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Details

SOLD
IMAGE: 5/25/2021 ADDRESS: 112 WEST 145 STREET MARKET: Harlem,Manhattan ASSET TYPE: Retail ~ ZONING: C8-3 BUYER: Steven Neuman SELLER: Tracy Cohen PRICE: $6,050,000 BSF: 31,974 ~ PPBSF: $189 SF: 15,028 ~ PPSF: $402 FAR: 0.94 TAX CLASS: 4 LOT SIZE: 15,987 PERMITS: Full demolition (01/27/2021) LOT DIMENSIONS: 160 ft x 99.92 ft

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$322,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$21,494.37
Cash-on-Cash Return-1.27%
Monthly Debt Service$28,680.09
Annual Debt Service$344,161.04