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75 W 125th St, New York, NY...

Gatsby Enterprises LLC Acquires Office Building In West Harlem For $19.5M
SOLDRetail

Gatsby Enterprises LLC Acquires Office Building In West Harlem For $19.5M

75 W 125th St, New York, NY 10027, USA

Building Size

64,000 SF

Asset Type

Retail

Closing

Feb 21, 2018

AI

An office building located at 75 West 125th Street in West Harlem, New York has been sold for $19,450,000. The property spans across 27,933 square feet and has a price per square foot of $696. The total building square footage is 70,536, resulting in a price per building square foot of $275.

Summary of transaction details

  • Property Type: Office Building
  • Transaction Amount: $19,450,000
  • Address: 75 West 125th Street, New York
  • Market: West Harlem
  • Square Footage: 27,933 sf (building), 70,536 sf (total)
  • Price per Square Foot: $696 (building), $275 (total)

The seller of the office building was Carver Federal Savings Bank, represented by Michael T. Pugh. The buyer of the property was Gatsby Enterprises LLC, represented by Nader Ohebshalom.

Players

Joshua Nazar

Venture Capital Properties

Broker

$67.9M

vol

5 deals

Broker
CB
Carver Federal Savings BankSeller

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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93