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Raghav Bahl Acquires Retail Property In East Harlem, Manhattan For $8.4M

Property Image
SOLD
$8,400,000
Maurice Suede
Jordan Sutton
+ 2

New York

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Retail10,420 SF
Sold 08/11/2023
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Property Image
SOLD

Raghav Bahl Acquires Retail Property In East Harlem, Manhattan For $8.4M

1905 3rd Ave New York, NY 10029, USA

See Similar Deals
Retail10,420 SF
Sold 08/11/2023
Maurice Suede
Jordan Sutton
+ 2
Contact now

Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$806
Total Square Footage:10,420 SF
Transaction Type:Sale

Located at 1905 3rd Avenue in East Harlem, Manhattan, this retail property was recently sold in a transaction. The property spans 10,420 square feet and was sold at a price of $8,400,000, resulting in a price per square foot of $806. The deal was facilitated by the brokerage firm Cushman & Wakefield, with Jordan Sutton, Maurice Suede, and Ian Brooks serving as the seller's representatives.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $8,400,000
  • Address: 1905 3rd Avenue, East Harlem, Manhattan
  • Market: East Harlem, Manhattan
  • Buyer: Raghav Bahl
  • Buyer's Representative: Mirza Avdovic & David Workman - Keller Williams
  • Seller's Representatives: Jordan Sutton, Maurice Suede & Ian Brooks - Cushman & Wakefield
  • Square Footage: 10,420
  • Price per Square Foot: $806

The buyer in this transaction is Raghav Bahl, while Mirza Avdovic and David Workman from Keller Williams represented the buyer's side. The seller's representatives, Jordan Sutton, Maurice Suede, and Ian Brooks from Cushman & Wakefield, worked on behalf of the seller. This sale demonstrates the ongoing activity and value in the retail market in East Harlem, Manhattan.

Players

33 deals$246.4M volume(917) 284-1406
BROKER


Ian Brooks
CBRE
50 deals$431.6M volume(212) 984-8107
BROKER

Mirza Avdovic
5 deals$35.7M volume(917) 609-8146
BROKER

David Workman
Keller Williams Realty
1 deal$8.4M volume(917) 687-8687
BROKER

Cushman & Wakefield
BROKERAGE

Details

SOLD
IMAGE: Jordan Sutton, Maurice Suede, Ian Brooks & Mirza Avdovic DATE: 08/11/2023 ADDRESS: 1905 3rd Avenue MARKET: East Harlem, Manhattan ASSET TYPE: Retail BUYER: Raghav Bahl BUYER'S REP: Mirza Avdovic (@MirzaAvdovic) & David Workman - Keller Williams SELLER'S REP: Jordan Sutton (@JSutto12), Maurice Suede & Ian Brooks - Cushman & Wakefield (@CushWake) SALE PRICE: $8,400,000 SF: 10,420 ~ PPSF: $806

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

$448,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$29,843.42
Cash-on-Cash Return-1.27%
Monthly Debt Service$39,820.29
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