Ariel Sherizen’s Edge Property Group pays $8.1M for property in Central Harlem

Ariel Sherizen’s Edge Property Group through the entity Edge 147 LLC paid 218 West 147 Corp. $8.1 million for 218 West 147th Street in Central Harlem. The deal closed on November 14, 2019, and was recorded on November 21, 2019. The transaction consists of 1 parcel, including the tax class health center, child center, clinic (I5). The property is 22,922 square feet. The parcel(s) have total development potential of 34,442 square feet.
The average sale price per square foot is $235.
The estimated cap rate is 3.0%

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