Aaron Sosnick Acquires Community Facility On 287 East 10th Street In LES For $32M
287 E 10th St, New York, NY 10009, USA
$32,000,000
$551/SF
Building Size
58,000 SF
Asset Type
Other
Closing
Jul 16, 2019
AI
The community facility at 287 East 10th Street in the Lower East Side has been sold for $32,000,000. The property spans 58,000 square feet, resulting in a price per square foot of $551. The buyer of the facility is Aaron Sosnick.
Summary of transaction details:
- Property Type: Community Facility
- Transaction Amount: $32,000,000
- Square Footage: 58,000
- Price per Square Foot: $551
- Address: 287 East 10th Street
- Market: Lower East Side
Aaron Sosnick has acquired the community facility located at 287 East 10th Street. The sale was facilitated by Adam Doneger and Alessandra Faglione from Cushman & Wakefield, representing the buyer. The seller of the property is the Boys Club of New York. Additionally, Michael Gambecki was also involved in the transaction on behalf of Cush Wake.
It is worth noting that Aaron Sosnick intends to retain the property as a community facility.
Players
New York Other Market Snapshot
Boundary boundary · Other · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.50%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93