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2118 2nd Avenue, New York C...

Black Bear Capital Acquires Mixed-use Property In East Harlem For $1.8M
SOLDRetail

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

Jordan Sutton

JGS Realty GRP LLC

Broker

$246.4M

vol

33 deals

Broker
Cushman & Wakefield
Cushman & WakefieldBrokerage
Jeremey Tahari

Jeremey Tahari

Black Bear Capital Partners

Buyer

$59.5M

vol

16 deals

Buyer
Prana Investments
Prana InvestmentsSeller

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