Description

ERG Commercial Real Estate is proud to announce the recent closing of 2108-2110 2nd Avenue in East Harlem, New York. The marketing of this property, whose rent roll is entirely comprised of stabilized rents, began before the recent rent regulation changes. With the proper insight and guidance, ERG was able to facilitate this sale through the turbulent market conditions after these changes. The final sale price of the property was $1,950,000 and at an effective cap rate of 3.8%, achieving a market premium.