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Austrian 1031 Exchange Buyer Acquires West Harlem Multi-Family Property For $9.7M

141 West 111th street
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This MultiFamily property located in NY was sold about 6 years ago. The brokers of the deal were Uriel Setareh, Roy Oskar, and Kevin Darouvar

Located at 141 West 111th street in New York's West Harlem market, this multi-family property was recently sold for a price of $9,700,000. Spanning across 14,595 square feet, the property was sold at a rate of $669 per square foot. The building comprises 20 units, with 15 of them being apartment units and 5 being retail spaces, achieving a per unit price of $485,000. The cap rate for this transaction is 3.9%.

Summary of transaction details

  • Property Type: Multi-Family
  • Transaction Amount: $9,700,000
  • Square Footage: 14,595 sf
  • Price per Square Foot: $669
  • Number of Units: 20
  • Composition of Units: 15 apartment units and 5 retail spaces
  • Price per Unit: $485,000
  • Cap Rate: 3.9%

The seller of this property was Adonis Mallios, while the buyer was an Austrian 1031 exchange buyer. The deal was facilitated by Kevin Darouvar and Roy Oskar, who represented their respective parties as brokers in the transaction.

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Deals
  • Location
    141 W 111th St, New York, NY 10026, USA141 W 111th St, New York, NY 10026, USA
  • Area
    1,459 SF1,459 SF
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    3 Brokers, 2 Agencies3 Brokers, 2 Agencies

Agents

Uriel Setareh

Uriel Setareh

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Sold$18.7M

Kevin Darouvar

Kevin Darouvar

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Sold$31.7M

Agencies

Dusk Group

Dusk Group

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Volume$68.1M

Venture Capital Properties

Venture Capital Properties

Agency
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Volume$1.2B

Deal Summary

IMAGE: Kevin Darouvar (@KDarouvar) DATE: 01/18/18 ADDRESS: 141 West 111th street CITY: New York MARKET: West Harlem ASSET TYPE: Multi-Family PRICE: $9,700,000 SF: 14,595 sf PPSF: $669 UNITS: 20 (15 FM and 5 RS) PPU: $485K CAP RATE: 3.9% SELLER: Adonis Mallios BUYER: Austrian 1031 exchange buyer BROKER: Kevin Darouvar (@kdarouvar) , Roy Oskar ( […]

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141 West 111th street

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