Union Theological Seminary Acquires 27 Condo Units In Morningside Heights, Manhattan For $23.5M
100 Claremont Avenue
$23,500,000
Units
27
Asset Type
Condo
Closing
Sep 15, 2023
About this deal
AI
Union Theological Seminary has acquired 27 unsold condominium units at 100 Claremont Avenue in Morningside Heights, Manhattan. The purchase price for this transaction was $23.5 million, with a per unit cost of $870,370. The seller, Lendlease, completed the deal with the buyer on September 15, 2023. This property asset is a condo located in the lively market of Morningside Heights, offering a prime location in Manhattan.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $23,500,000
- Units: 27
- Price per Unit (PPU): $870,370
- Market: Morningside Heights, Manhattan
- Date: September 15, 2023
- Buyer: L. Serene Jones - Union Theological Seminary
- Seller: Caaminee Pandit Vecchio - Lendlease
This significant deal was brokered by Caaminee Pandit Vecchio, representing Lendlease, and L. Serene Jones, acting on behalf of Union Theological Seminary. The purchase of these 27 condo units marks an important milestone for Union Theological Seminary in expanding its real estate portfolio. With this acquisition, they have further strengthened their presence in the vibrant Morningside Heights area of Manhattan.
On the Map
$23,500,000
Condo
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Players
New York Condo Market Snapshot
Boundary boundary · Condo · Sale transactions
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Deal FAQ
About $870.4K per unit across 27 units on a published $23.5M (2023).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.68%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93