TheNewSchool Acquires Dormitory In Gramercy For $65.4M
SOLD
$65,400,000
New York
See Similar DealsOther1,441,610 SF
Sold 02/07/2019
SOLD
TheNewSchool Acquires Dormitory In Gramercy For $65.4M
301 1st Avenue, New York, NY 10003, USA
See Similar DealsOther1,441,610 SF
Sold 02/07/2019
Summary
NEW YORK
Asset Type:Other
Price Per Square Foot:$45
Total Square Footage:1,441,610 SF
Transaction Type:Sale
Eric Gural of GFP Real Estate and Meadow Partners have closed on the sale of a dormitory property located at 301 First Avenue in the Gramercy market. The property was sold to The New School for a total price of $65,400,000. The dormitory spans 144,161 square feet, resulting in a price per square foot of $453.
Summary of transaction details
- Property Type: Dormitory
- Transaction Amount: $65,400,000
- Address: 301 First Avenue
- Market: Gramercy
The buyer, represented by The New School's broker, acquired the property from GFP Real Estate and Meadow Partners. Eric Gural of GFP Real Estate and Meadow Partners facilitated the transaction.
Players
BUYER
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,487,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$232,352.39
Cash-on-Cash Return-1.27%
Monthly Debt Service$310,029.37
Annual Debt Service$3,720,352.39
Is there something missing? Send suggestions