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Bayrock Capital Acquires Educational Facility In New York City For $14M

Property Image
SOLD
$14,000,000
Charlie Gravina
John Ciraulo
Andrew Berry
+ 3

New York

See Similar Deals
Other16,267 SF
Sold 06/30/2023
the dealplayerscompscontact
Property Image
SOLD

Bayrock Capital Acquires Educational Facility In New York City For $14M

160 W 74th St New York, NY 10023, USA

See Similar Deals
Other16,267 SF
Sold 06/30/2023
Charlie Gravina
John Ciraulo
Andrew Berry
+ 3
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Other
Price Per Square Foot:$860
Total Square Footage:16,267 SF
Transaction Type:Sale

An educational facility located at 160 West 74th Street in New York City has been sold for $14,000,000. The property spans 16,267 square feet and the price per square foot is $861.

Summary of transaction details:

The buyer of the educational facility is Bayrock Capital, represented by Marc Glassman and Daniel Rabinowitz. The seller is Calhoun, represented by Steven Solnick. The transaction was facilitated by brokers Craig Waggner, John Ciraulo, Andrew Berry, and Charlie Gravina from Cushman & Wakefield.

Players

Charlie Gravina
Cushman & Wakefield
Charlie Gravina
21 deals$280.6M volume
BROKER
John Ciraulo
Cushman & Wakefield
John Ciraulo
47 deals$732.2M volume(212) 660-7700
BROKER
Andrew Berry
Cushman & Wakefield
Andrew Berry
33 deals$410.9M volume
BROKER
Craig Waggner
Cushman & Wakefield
Craig Waggner
46 deals$696M volume
BROKER
MG
Bayrock Capital
Marc Glassman
5 deals$59.5M volume
BUYER
DR
Bayrock Capital
Daniel Rabinowitz
6 deals$70.5M volume
BUYER

Details

SOLD
IMAGE: Craig Waggner, John Ciraulo, Andrew Berry & Charlie Gravina DATE: 06/30/2023 ADDRESS: 160 West 74th Street MARKET: New York City ASSET TYPE: Educational Facility BUYER: Bayrock Capital - Marc Glassman & Daniel Rabinowitz SELLER: Calhoun - Steven Solnick BROKERS: Craig Waggner (@Craig_Waggner), John Ciraulo (@JohnCiraulo), Andrew Berry (@AtBerry3) & Charlie Gravina (@Chuckee_G) - Cushman & Wakefield (@CushWake) (@TeamCirauloWaggner) SALE PRICE: $14,000,000 SF: 16,267 ~ PPSF: $861

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

$746,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$49,739.05
Cash-on-Cash Return-1.27%
Monthly Debt Service$66,367.14
Annual Debt Service$796,405.71