NYC School Construction Authority Acquires Commercial Condo At 42 Trinity Place In Financial District For $104.4M
42 Trinity Pl, New York, NY 10006, USA
$104,361,959
$1,245/SF
Building Size
83,776 SF
Asset Type
—
Closing
Apr 5, 2020
About this deal
AI
The NYC School Construction Authority has purchased a commercial condo located at 42 Trinity Place in the Financial District. The property spans a total of 83,776 square feet and was sold for a price of $104,361,959, resulting in a price per square foot of $1,246. The seller of the property was Trinity Place Holdings, represented by Matthew Messinger.
Summary of transaction details
- Property Type: Commercial Condo
- Transaction Amount: $104,361,959
- Square Footage: 83,776
- Price per Square Foot: $1,246
- Address: 42 Trinity Place
- Market: Financial District
The NYC School Construction Authority plans to use the commercial condo to build a public elementary school with 476 seats at the base of @77Greenwich. This transaction highlights the involvement of Matthew Messinger from Trinity Place Holdings as the seller's representative in the deal.
On the Map
$104,361,959
$1,245/SF
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Players
New York CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Deal FAQ
About $1.2K per square foot on a published $104.4M for 83,776 square feet (2020).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.15%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93