Extell Ground Leases School Property In Lincoln Square In $49.5M Deal
17 West 60th Street, Manhattan, New York, NY, USA
$49,500,000
$49,500,000/SF
Building Size
76,511 SF
Asset Type
Other
Closing
Aug 4, 2021
About this deal
AI
A ground lease for a school property in Lincoln Square has been transacted for $49,500,000. The property, located at 17 West 60th Street, spans approximately 76,511 square feet. The lease term is set for 99 years. The landlord for this transaction is Extell, while the tenant is The Shefa School.
Summary of Transaction Details
- Property Type: School
- Transaction Amount: $49,500,000
- Address: 17 West 60th Street
- Market: Lincoln Square
- Square Footage: 76,511
- Lease Term: 99 years
- Tenant: The Shefa School
- Landlord: Extell
The Shefa School, a school specialized in serving the needs of children, will occupy the property under the ground lease. Extell, a reputable real estate agency, represents the landlord in this transaction.
On the Map
$49,500,000
$49,500,000/SF
Other
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93