Columbia University Acquires Retail Property In Manhattanville For $33.6M
3300 Broadway, New York, NY 10031, USA
$33,600,006
$622/SF
Building Size
53,952 SF
Asset Type
Retail
Closing
Oct 9, 2019
About this deal
AI
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.
Players
New York Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.47%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93