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1910 Arthur Ave, Bronx, NY,...

Tommy Hines Leases Bronx School From Joyland Group For 65,000 Sq Ft
LEASEDSchool

Tommy Hines Leases Bronx School From Joyland Group For 65,000 Sq Ft

1910 Arthur Ave, Bronx, NY, 10457

Building Size

65,000 SF

Asset Type

School

Closing

Apr 14, 2020

AI

The property located at 1910 Arthur Ave, Bronx, NY, 10457, is a school with a total square footage of 65,000. The lease for this asset was finalized on 04/14/2020 in the Bronx market. The school serves as a significant establishment in the area, contributing to the educational landscape of the community. The tenant's representative for this transaction was Thomas (Tommy) Hines of OPEN Impact Real Estate, while the landlord involved in the deal was Joyland Group.

Summary of transaction details:

  • Property Type: School
  • Transaction Amount: Not specified
  • Address: 1910 Arthur Ave, Bronx, NY, 10457
  • Market: Bronx
  • Tenant's Rep: Thomas (Tommy) Hines(OPEN Impact Real Estate)
  • Landlord: Joyland Group
  • Square Feet: 65,000

The lease agreement for the school at 1910 Arthur Ave marks a significant collaboration between OPEN Impact Real Estate, represented by Thomas Hines, and Joyland Group. This partnership highlights a successful negotiation in the Bronx market, showcasing the dedication of both parties to facilitating an agreement that benefits the community. This transaction further solidifies the importance of strategic real estate decisions in the educational sector, underlining the efforts made by key individuals to ensure the seamless execution of such deals.

Players

Thomas Hines

Transwestern

Broker

$1.2M

vol

5 deals

Broker
Joyland Group
Joyland GroupLandlord

Bronx School Market Snapshot

Boundary boundary · School · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93