Updated Oct 28, 2024
East Harlem Scholars Academy Charter School Secures $49.7M Construction Loan From Goldman Sachs
2017 1st Avenue, New York City, New York 10029, United States
$49,692,000
Building Size
—
Asset Type
Development Site
Closing
Aug 25, 2022
About this deal
AI
A development site located at 2017 First Avenue in East Harlem, Manhattan has been involved in a recent transaction. The property, which is owned by East Harlem Scholars Academy Charter School and represented by Jeffrey Ginsburg, has secured a construction loan.
Summary of transaction details
- Property Type: Development site
- Transaction Amount: $49,692,000
- Lender: Goldman Sachs
- Landlord: East Harlem Scholars Academy Charter School - Jeffrey Ginsburg
- Loan Type: Construction
The loan has been provided by Goldman Sachs to facilitate the development of the property. East Harlem Scholars Academy Charter School, under the representation of Jeffrey Ginsburg, has successfully secured the loan for the construction of the development site located at 2017 First Avenue in East Harlem, Manhattan.
Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93