Raghav Bahl Acquires Retail Property In East Harlem, Manhattan For $8.4M
1905 3rd Ave New York, NY 10029, USA
$8,400,000
$806/SF
Building Size
10,420 SF
Asset Type
Retail
Closing
Aug 11, 2023
AI
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
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
1.89%
Cash-on-Cash
-0.54%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93