Columbia University Acquires Retail Property In Manhattanville For $33.6M
SOLD
$33,600,006
New York
See Similar DealsRetail53,952 SF
Sold 10/10/2019
SOLD
Columbia University Acquires Retail Property In Manhattanville For $33.6M
3300 Broadway, New York, NY 10031, USA
See Similar DealsRetail53,952 SF
Sold 10/10/2019
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$622
Total Square Footage:53,952 SF
Transaction Type:Sale
The retail property located at 3300 Broadway in Manhattanville has been sold in a closed transaction. The buyer, Columbia University, purchased the property from the seller, Nick Sprayregen, for a total price of $33.6 million. The property spans a total area of 53,952 square feet, resulting in a price per square foot of $622. Additionally, the building's gross square footage is 108,268, with a price per gross square foot of $310.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $33.6 million
- Square Footage: 53,952 square feet
- Price per Square Foot: $622
- Gross Square Footage: 108,268
- Price per Gross Square Foot: $310
This transaction signifies the involvement of key individuals and companies. Columbia University acted as the buyer in this deal, with Nick Sprayregen representing the seller. The transaction highlights the significance of both parties in the retail market of Manhattanville.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,792,000.31
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$119,373.73
Cash-on-Cash Return-1.27%
Monthly Debt Service$159,281.17
Annual Debt Service$1,911,374.04
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