Goddard Riverside Community Center Leases 5,056-SF Office Space At 2389 Adam Clayton Powell Jr. Boulevard
2389 Adam Clayton Powell Jr. Boulevard
Building Size
5,056 SF
Asset Type
Office
Closing
Oct 29, 2024
About this deal
AI
The property asset involved in the transaction is a 5,056-square-foot office space located at 2389 Adam Clayton Powell Jr. Boulevard in Harlem, Manhattan. The asking rent for this office space was set at $35 per square foot.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $35/ft
- Address: 2389 Adam Clayton Powell Jr. Boulevard
- Market: Harlem, Manhattan
- Landlord: KP Developers
- Tenant: Goddard Riverside Community Center
- Broker: Samuel Hartstein - Gemstone Realty Group
- Square Footage: 5,056
- Lease Duration: 10 years
The transaction involved Goddard Riverside Community Center, which signed a lease to expand its services aimed at teens, the elderly, and the homeless. Samuel Hartstein represented Gemstone Realty Group in this leasing agreement.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
453228.57%
Cash-on-Cash
-129534.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93