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Brokerage
Posted: May 25, 2010
Czajkowski of Berko negotiates $1.25 million sale
Berko & Associates has brokered the sale of 2007 Lexington Ave. in Harlem. The four-story building located on the corner of 122nd St. consists of six studio apartments and a retail store. The building traded for $1.25 million representing a 6.24% cap and over 12 times the gross rent. Agnes Czajkowski of Berko & Associates represented the sellers, a joint venture between Joe Berko and GF55 Architects.
"The Upper Manhattan submarket has been increasingly active in the past 12 months and I see more enticing transactions coming back to the market. Still, many local buyers are searching for cash flowing assets because it is much easier to obtain financing," said Czajkowski.
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