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
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