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117 W 124th St, New York, N...

Children's Aid Society Acquires Office Condominium In Central Harlem For $45.3M
SOLDOffice

Children's Aid Society Acquires Office Condominium In Central Harlem For $45.3M

117 W 124th St, New York, NY 10027, USA

$45,300,000

$676/SF

Building Size

67,000 SF

Asset Type

Office

Closing

Mar 3, 2020

AI

The office condominium located at 117 West 124th Street in Central Harlem has been sold in a closed transaction. The property spans 67,000 square feet and has been purchased by the Children’s Aid Society. The seller, Rockfeld Group represented by Steven Feldman, agreed to a selling price of $45,300,000. This translates to a price per square foot of $675.

Summary of transation details

  • Property Type: Office condominium
  • Transaction Amount: $45,300,000
  • Address: 117 West 124th Street, Central Harlem
  • Buyer: Children’s Aid Society
  • Seller: Rockfeld Group – Steven Feldman
  • Square Footage: 67,000
  • Price per Square Foot: $675

The Children’s Aid Society has acquired the office condominium from the Rockfeld Group, with Steven Feldman handling the transaction as their representative. This closed deal marks a significant transaction in the Central Harlem market.

Players

CS
Children’s Aid SocietyBuyer

Steven H. Feldman

Rockfeld Group

Seller

$50.8M

vol

3 deals

Seller

New York Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.35%

Cash-on-Cash

-0.10%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93