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360 S Rosemary Ave Suite 11...

Mount Sinai Health System Leases Office Space At 360 Rosemary In Downtown West Palm Beach
LEASEDOffice

Mount Sinai Health System Leases Office Space At 360 Rosemary In Downtown West Palm Beach

360 S Rosemary Ave Suite 1100, West Palm Beach, FL 33401, United States

$44

$44/SF

Building Size

5,850 SF

Asset Type

Office

Closing

May 15, 2023

AI

The Mount Sinai Health System has leased a 5,850-square-foot space at 360 Rosemary in Downtown West Palm Beach, Florida. The lease transaction was facilitated by the Related Companies, the landlord of the property. The space will be utilized by Mount Sinai Health System to establish a concierge care facility, offering on-demand medical services. It will include various amenities such as exam rooms, a dermatology spa, and treatment rooms for cosmetic procedures.

Summary of transaction details

  • Property Type: Office
  • Asking Rent: $44.3/ft.
  • Square Footage: 5,850
  • Address: 360 Rosemary Avenue, Downtown West Palm Beach
  • Market: Downtown West Palm Beach

The lease agreement was signed between Mount Sinai Health System and the landlord, Related Companies. This transaction showcases the growing demand for medical services in the Downtown West Palm Beach area, as well as the commitment of Mount Sinai Health System to provide convenient and accessible care to the community.

Players

Kenneth L. Davis

Mount Sinai Health System

Tenant

2 deals

Tenant

Miami Office Market Snapshot

Boundary boundary · Office · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

360522.73%

Cash-on-Cash

-103038.50%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93