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Commonpoint Acquires Bronx School From Madison Square Boys & Girls Club For $7.9M

Property Image
SOLD
$7,900,000
Josh Neustadter
Jonathan Squires
+ 1

New York

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Office36,900 SF
Sold 11/27/2024
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Property Image
SOLD

Commonpoint Acquires Bronx School From Madison Square Boys & Girls Club For $7.9M

1665 Hoe Avenue

See Similar Deals
Office36,900 SF
Sold 11/27/2024
Josh Neustadter
Jonathan Squires
+ 1
Contact now

Summary

NEW YORK
Asset Type:Office
Price Per Square Foot:$214
Total Square Footage:36,900 SF
Transaction Type:Sale

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:

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

Josh Neustadter
60 deals$545.5M volume(212) 660-7739
BROKER

Jonathan Squires
Cushman & Wakefield
93 deals$712.3M volume(917) 445-0022
BROKER

Austin Weiner
Cushman & Wakefield
37 deals$281.6M volume
BROKER

David Lebenstein
Cushman & Wakefield
13 deals$75.7M volume
BROKER

Details

SOLD
IMAGE: David Lebenstein, Jonathan Squires, Joshua Neustadter & Austin Weiner DATE: 11/27/2024 ADDRESS: 1665 Hoe Avenue MARKET: Bronx ASSET TYPE: School BUYER: Commonpoint SELLER: Madison Square Boys & Girls Club BROKERS: Jonathan Squires, David Lebenstein (@DavidLebenstein), Joshua Neustadter (@Josh_Neust) & Austin Weiner (@AustinWeiner) - Cushman & Wakefield (@CushWake) SALE PRICE: $7,900,000 SF: 36,900 ~ PPSF: $214

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$421,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$28,067.05
Cash-on-Cash Return-1.27%
Monthly Debt Service$37,450.03
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