Commonpoint Acquires Bronx School From Madison Square Boys & Girls Club For $7.9M
1665 Hoe Avenue
$7,900,000
$214/SF
Building Size
36,900 SF
Asset Type
Office
Closing
Nov 27, 2024
AI
The asset involved in the transaction is a school located at 1665 Hoe Avenue in the Bronx. The sale price for the property was $7,900,000, which translates to a price per square foot of $214. The total square footage of the property is 36,900.
Summary of transaction details:
- Property Type: School
- Transaction Amount: $7,900,000
- Address: 1665 Hoe Avenue
- Market: Bronx
- Square Footage: 36,900
- Price Per Square Foot: $214
- Buyer: Commonpoint
- Seller: Madison Square Boys & Girls Club
- Brokers: Jonathan Squires, David Lebenstein, Joshua Neustadter & Austin Weiner - Cushman & Wakefield
The key individuals involved in the deal include Jonathan Squires, David Lebenstein, Joshua Neustadter, and Austin Weiner, all of whom represented the transaction through Cushman & Wakefield. They played an instrumental role in facilitating the sale between the buyer, Commonpoint, and the seller, Madison Square Boys & Girls Club.
Players
Bronx 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
2.01%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93