Grand Concourse Academy Charter School Acquires School In Soundview For $31.6M
625 Bolton Avenue, The Bronx, New York 10473, United States
$31,600,000
$631/SF
Building Size
50,064 SF
Asset Type
Other
Closing
Jul 13, 2022
About this deal
AI
The Bari Cooper Sherman School in Soundview has been sold in a recent transaction for $31,600,000. The school, located at 625 Bolton Avenue, spans a total of 50,064 square feet with a price per square foot of $631. The buyer of the property is Grand Concourse Academy Charter School, while the seller is Turner Impact Capital - Bari Cooper Sherman.
Summary of transaction details:
- Property Type: School
- Transaction Amount: $31,600,000
- Address: 625 Bolton Avenue
- Market: Soundview
- Buyer: Grand Concourse Academy Charter School
- Seller: Turner Impact Capital - Bari Cooper Sherman
- Square Footage: 50,064
- Price Per Square Foot: $631
The Grand Concourse Academy Charter School acquired the Bari Cooper Sherman School from Turner Impact Capital. This transaction represents a significant deal in the Soundview market, providing the charter school with a new location to serve its students.
Players
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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