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615 West 131st Street

Updated Dec 4, 2024

Priscilla Chan And Mark Zuckerberg Lease 37,840 SF Commercial Space At 615 West 131st Street
LEASEDCommercial

Priscilla Chan And Mark Zuckerberg Lease 37,840 SF Commercial Space At 615 West 131st Street

615 West 131st Street

Building Size

37,840 SF

Asset Type

Commercial

Closing

Oct 10, 2024

About this deal

AI

The property asset involved in this transaction is located at 615 West 131st Street, in the Manhattanville market. The asset type is commercial with a total square footage of 37,840. The landlord of this property is Columbia University, and the tenant is Priscilla Chan and Mark Zuckerberg representing the Chan Zuckerberg Biohub New York.

Summary of transaction details:

  • Property Type: Commercial
  • Transaction Amount: Not specified
  • Address: 615 West 131st Street
  • Market: Manhattanville
  • Square Footage: 37,840
  • Landlord: Columbia University
  • Tenant: Priscilla Chan & Mark Zuckerberg - Chan Zuckerberg Biohub New York
  • Brokers: John Isaacs & Joseph DeRosa - CBRE

The leadership from Chan Zuckerberg Biohub New York and the Chan Zuckerberg Initiative played a crucial role in launching the Biohub. This initiative focuses on bioengineering immune cells to facilitate early disease detection and treatment, with collaborative participation from prestigious institutions such as Columbia, Rockefeller, and Yale.

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Players

John Isaacs

CBRE

Broker

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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