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
About this deal
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
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Deal FAQ
About $676 per square foot on a published $45.3M for 67,000 square feet (2020).
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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