SOLDSchool
Charter High School Acquires Gymnasium Complex In Brooklyn For $19.1M
584 Driggs Avenue Brooklyn, New York 11211, USA
$19,100,000
Building Size
—
Asset Type
School
Closing
Aug 8, 2023
AI
A charter high school in Williamsburg, Brooklyn, has purchased a gymnasium complex located at 584 Driggs Ave. The property was sold for a total of $19.1 million.
Summary of transaction details:
- Property Type: School
- Transaction Amount: $19,100,000
- Address: 584 Driggs Avenue, Brooklyn
- Market: Brooklyn
Jake Elghanayan acted as the buyer in this transaction, acquiring the gymnasium complex on behalf of the charter high school. On the selling side, David Dweck represented the seller.
Players
New York School Market Snapshot
Boundary boundary · School · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.83%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93