Burland and Babo of GFI secure sale of Harlem walk-up for $3 million

GFI Realty Services, Inc. one of the leading, New York-based commercial real estate services firms, arranged the sale of 18 West 125th Street, a five-story walk up apartment building located in the Central Harlem South section of the borough for $3 million or $375,000 a unit, which translates to 13 times the rent roll. The multifamily property features eight rental units and a ground floor commercial unit. Jonathan Burland of GFI represented the seller and Ohad Babo also of GFI represented the buyer, both of whom are local investors. "The buyer, predominately a retail investor, saw the potential in this property's location," said Babo. "125th Street is the strongest retail corridor north of 96th Street, and the residential market in Harlem is at an all time high." The property was constructed in 1909 and is within close proximity to the 125th Street subway stations, which service the 2, 3, 4, 5, and 6 lines, the Harlem - 125th Street Metro North train station, and Marcus Garvey Park.