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287 E 10th St, New York, NY...

Aaron Sosnick Acquires Community Facility On 287 East 10th Street In LES For $32M
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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

Alessandra Faglione

Cushman & Wakefield

Broker

$39.9M

vol

2 deals

Broker

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