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
About this deal
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.
On the Map
$44
$44/SF
Office
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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