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.
New York Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
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