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
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.
Players
New York Commercial Market Snapshot
Boundary boundary · Commercial · Lease transactions
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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