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Brokerage
Posted: September 27, 2022
Ferrara of Brax Realty sells 4-unit renovated Harlem building
New York, NY Michael Ferrara, managing principal of Manhattan based Investment sales Brokerage firm Brax Realty has completed the sale of 286 West 137th St. for $1.775 million.
The building sold in an all-cash transaction and consisted of four free-market apartments. 286 West 137th St. is located in Harlem between Frederick Douglas Blvd. and Adam Clayton Powell Jr. Blvd. and was fully gut renovated a few years ago. The 4,247 s/f building had 16’ of frontage, was tax class 2A and located just a short walk to the A,C & B Subway at 135th Street. Ferrara exclusively handled this transaction and this was the second building he has sold for this family. The property traded for a 5.3% Cap Rate, 11.6 x RR and $417 per s/f.
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