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3300 Broadway, New York, NY...

Updated Oct 29, 2024

Columbia University Acquires Retail Property In Manhattanville For $33.6M
SOLDRetail

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

CU
Columbia UniversityBuyer

New York Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Deal FAQ

About $622 per square foot on a published $33.6M for 53,952 square feet (2019).

Browse New York retail sales on Traded.

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

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