Cushman & Wakefield Brokers $14.5M Sale Of Special Purpose School In Central Harlem
SOLD
$14,489,500
New York
See Similar DealsSpecial Purpose22,922 SF
Sold 08/18/2022
SOLD
Cushman & Wakefield Brokers $14.5M Sale Of Special Purpose School In Central Harlem
218 West 147th Street
See Similar DealsSpecial Purpose22,922 SF
Sold 08/18/2022
Summary
NEW YORK
Asset Type:Special Purpose
Price Per Square Foot:$632
Total Square Footage:22,922 SF
Transaction Type:Sale
The special purpose property located at 218 W. 147th St. in Central Harlem has been sold for a price of $14,489,500. The property has a total area of 22,922 square feet, resulting in a price per square foot of $632. The transaction took place on August 18, 2022.
Summary of transaction details
- Property Type: Special Purpose – School
- Transaction Amount: $14,489,500
- Address: 218 W. 147th St.
- Market: Central Harlem
- Square Footage: 22,922
- Price Per Square Foot: $632
The property sale was facilitated by EDGE Property Group, with Cushman & Wakefield representing the seller. The broker representatives involved in the deal were Robert M. Shapiro, Ian Brooks, and Jordan Sutton.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$772,773.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$51,478.14
Cash-on-Cash Return-1.27%
Monthly Debt Service$68,687.62
Annual Debt Service$824,251.47
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