Highcap Group (www. highcapgroup.com), has arranged the sale of the property located at 2923 Eighth Ave. in the Harlem/Washington Heights neighborhood of the borough for $2.7 million. Goldflam represented the seller, Good Friends Realty Corp. and the purchaser, 2923 8th Avenue LLC.Tags:
The building is located on the border of Harlem and Washington Heights at the corner of Frederick Douglass Blvd. (8th Ave.) and West 155th St. The 2-story walk-up commercial building is 7,562 s/f and consists of 5 retail stores, and 2nd floor offices that are entirely rented out to a mosque. The property also has additional air rights which may be utilized to add an additional two floors to the property.
The property sold for $2.7 million which represents a sale price of an 8% cap-rate and $357 per s/f.