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1905 3rd Ave New York, NY 1...

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

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

Jordan Sutton

JGS Realty GRP LLC

Broker

$246.4M

vol

33 deals

Broker
Cushman & Wakefield
Cushman & WakefieldBrokerage

New York Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

Loading comparables…

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