David Koptiev Of Platinum Realty Associates Purchases Mixed-Use Asset From Barreiro Family For $5.4M
151 East 116th Street
$5,400,000
Building Size
—
Asset Type
Retail
Closing
Apr 8, 2025
AI
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.
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
2.94%
Cash-on-Cash
-0.84%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93