Black Bear Capital Acquires Mixed-use Property In East Harlem For $1.8M
2118 2nd Avenue, New York City, New York 10029, United States
$1,800,000
$1,200/SF
Building Size
1,500 SF
Asset Type
Retail
Closing
Feb 21, 2022
AI
Located at 2118 Second Avenue in East Harlem, this mixed-use property was recently sold in a transaction. The property spans 5,000 square feet and features a sale price of $1,800,000, translating to a price per square foot of $360.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $1,800,000
- Address: 2118 Second Avenue
- Market: East Harlem
The buyer of the property was Black Bear Capital, represented by Jake Croman, Adam Croman, Jeremy Tahari, and Jack Haroche. On the other hand, the seller was Dante Cappi. The deal was facilitated by brokers Jordan Sutton and Robert Shapiro from Cushman & Wakefield.
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
8.81%
Cash-on-Cash
-2.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93