RCM Group Acquires Retail Buildings In Harlem From Tamar Ofer For $9.25M
266 272 West 135th Street & 262 264 West 135th Street
$9,250,000
$462/SF
Building Size
19,984 SF
Asset Type
Retail
Closing
Jun 4, 2025
AI
The asset involved in the transaction is two adjacent 1-story retail buildings located at 266-272 West 135th Street & 262-264 West 135th Street in Harlem, Manhattan. The sale price for the properties was $9,250,000, with a total square footage of 9,992 and a price per square foot of $926.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $9,250,000
- Buyer: RCM Group
- Seller: Tamar Ofer
- Square Footage: 9,992
- Price per Square Foot: $926
- Market: Harlem, Manhattan
- Site Area: 11,588 square feet
- Zoning: Medium-density residential
A Fresh Meadows-based entity associated with RCM Group acquired the properties, with demolition permits already filed for one of the formerly church-owned buildings. No construction plans have been submitted yet for the site.
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
1.71%
Cash-on-Cash
-0.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93