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2005 3rd Avenue, Manhattan,...

Gary M Katz Sells Retail Property In East Harlem For $4.1M
SOLDRetail

Gary M Katz Sells Retail Property In East Harlem For $4.1M

2005 3rd Avenue, Manhattan, New York, NY, USA

$4,100,000

$745/SF

Building Size

5,500 SF

Asset Type

Retail

Closing

Nov 4, 2021

AI

A retail property located at 2005 3 Avenue in East Harlem, Manhattan has been sold for $4,100,000. The property has a total square footage of 5,500 and a price per square foot of $745. The building has a total square footage of 41,360 with a price per square foot of $99. The property is zoned for R9, C2-5, EHC and has a FAR of 1.00. The lot size is 5,500 square feet with dimensions of 50 ft x 110 ft. The property falls under tax class 4 and has a permit for a sign issued on 10/13/2000.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $4,100,000
  • Market: East Harlem, Manhattan
  • Seller: Gary M Katz

The deal for the retail property at 2005 3 Avenue was represented by Gary M Katz from an undisclosed agency. The transaction closed on 11/05/2021.

Players

Presidio Property Trust
Presidio Property TrustBrokerage

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

3.87%

Cash-on-Cash

-1.11%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93