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112 West 145th Street, Manh...

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

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

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

$6,050,000

$402/SF

Building Size

15,028 SF

Asset Type

Retail

Closing

May 24, 2021

AI

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

Steven Neuman

Haussmann Development

Buyer

$107.9M

vol

6 deals

Buyer

New York Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.62%

Cash-on-Cash

-0.75%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93