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617 W 181st St, New York, N...

Social Adult Care Leases School In New York From Chera Realty Group
LEASEDSchool

Social Adult Care Leases School In New York From Chera Realty Group

617 W 181st St, New York, NY, 10033

Building Size

14,859 SF

Asset Type

School

Closing

Sep 25, 2019

AI

The school property located at 617 W 181st St, New York, NY, 10033, in the New York market, was leased on 09/25/2019. The asset, with a total square footage of 14,859, was leased by Social Adult Care with Steve Lorenzo from Lee & Associates representing the tenant. The landlord in this transaction was Chera Realty Group.

Summary of transaction details:

  • Property Type: School
  • Transaction Amount: Not Applicable
  • Tenant: Social Adult Care
  • Tenant's Representative: Steve Lorenzo (Lee & Associates)
  • Landlord: Chera Realty Group
  • Square Feet: 14,859

The deal's key individuals were Steve Lorenzo representing the tenant and the Chera Realty Group as the landlord. Social Adult Care secured this lease in the New York market for the school property, reflecting a significant transaction in the property leasing sector.

Players

Steve Lorenzo

Lee & Associates

Broker

$112.8M

vol

23 deals

Broker
CG
Chera Realty GroupLandlord

New York 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