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David Koptiev Of Platinum Realty Associates Purchases Mixed-Use Asset From Barreiro Family For $5.4M
SOLD
$5,400,000
New York
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Sold 04/08/2025
SOLD
David Koptiev Of Platinum Realty Associates Purchases Mixed-Use Asset From Barreiro Family For $5.4M
151 East 116th Street
See Similar DealsRetail
Sold 04/08/2025
Summary
NEW YORK
Asset Type:Retail
Transaction Type:Sale
A mixed-use property located at 151 East 116th Street in East Harlem, Manhattan was sold for $5,400,000. The transaction involved the acquisition of the former Casa Latina Music Shop along with two nearby buildings.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $5,400,000
- Buyer: David Koptiev - Platinum Realty Associates
- Seller: Barreiro Family
- Sale Date: April 8, 2025
David Koptiev represented Platinum Realty Associates in the transaction, which involved multiple properties in a significant deal for the area. The seller of the properties was the Barreiro Family.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$288,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$19,185.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$25,598.75
Annual Debt Service$307,185.06
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