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Lincoln University Sells School In Oakland To New University LLC For $6.1M

Property Image
SOLD
$6,100,000

California

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School14,400 SF
Sold 07/11/2023
the dealdetailscomps
Property Image
SOLD

Lincoln University Sells School In Oakland To New University LLC For $6.1M

401 15th St Oakland, CA 94612, USA

See Similar Deals
School14,400 SF
Sold 07/11/2023
the dealdetailscomps

Summary

CALIFORNIA
Asset Type:School
Price Per Square Foot:$423
Total Square Footage:14,400 SF
Transaction Type:Sale

The downtown Oakland building located at 401 15th Street has been sold in a sale-leaseback deal. The property, which is a school, was purchased by New University LLC from the seller, Lincoln University - Mikhail Brodsky. The sale price for the building was $6,100,000, with a total square footage of 14,400. This translates to a price per square foot of $424.

Summary of transaction details

  • Property Type: School
  • Transaction Amount: $6,100,000
  • Address: 401 15th Street
  • Market: Oakland

Lincoln University decided to sell the building in order to generate capital to support their operations and expand their in-person and online programs. The sale-leaseback deal with New University LLC aims to stabilize and grow Lincoln University's enrollment amid declining numbers.

Details

SOLD
IMAGE: Mikhail Brodsky DATE: 07/11/2023 ADDRESS: 401 15th Street MARKET: Oakland ASSET TYPE: School BUYER: New University LLC SELLER: Lincoln University - Mikhail Brodsky SALE PRICE: $6,100,000 SF: 14,400 ~ PPSF: $424 NOTE: Lincoln University has sold its downtown Oakland building for $6.1 million in a sale-leaseback deal to New University LLC, aiming to stabilize and grow its enrollment amid declining numbers. The university plans to use the capital to support operations and expand its in-person and online programs.

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