Updated Oct 28, 2024
Storefront Academy Harlem Sells Special Purpose Property In East Harlem For $3.7M
$3,700,000
$179/SF
Building Size
20,640 SF
Asset Type
Special Purpose
Closing
Aug 12, 2022
About this deal
AI
The property located at 57-61 E 129th St. in East Harlem was sold in a recent transaction. The asset is a special purpose property with a total square footage of 10,320. The sale price for the property was $3,700,000, resulting in a price per square foot of $358. The building size is 18,500 square feet, making the price per building square foot $200.
Summary of transaction details
- Property Type: Special Purpose
- Transaction Amount: $3,700,000
- Market: East Harlem
- Seller: Storefront Academy Harlem
- Brokers: Jordan Sutton & Robert Shapiro - Cushman & Wakefield
- SF: 10,320
- PPSF: $358
- BSF: 18,500
- PPBSF: $200
The seller in this transaction was Storefront Academy Harlem. Jordan Sutton and Robert Shapiro from Cushman & Wakefield represented the buyer and seller in the deal as brokers.
Players
Market Special Purpose Market Snapshot
Boundary boundary · Special Purpose · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.29%
Cash-on-Cash
-1.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93