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1848 3rd Ave, New York, NY,...

Pegasus Capital Advisors Leases 13700 Square Feet From The Shorenstein Co In New York
LEASED

Pegasus Capital Advisors Leases 13700 Square Feet From The Shorenstein Co In New York

1848 3rd Ave, New York, NY, 10029

Building Size

13,700 SF

Asset Type

Closing

Nov 20, 2023

AI

The property involved in the transaction is located at 1848 3rd Ave, New York, NY, 10029. It encompasses a total of 13,700 square feet. The transaction pertains to a lease agreement in the competitive New York market.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not specified
  • Address: 1848 3rd Ave, New York, NY, 10029
  • Market: New York
  • Square Feet: 13,700
  • Tenant: Pegasus Capital Advisors
  • Landlord: The Shorenstein Co
  • Tenant's Representative: Keith Caggiano (Avison Young)
  • Landlord's Representatives: Matthew Astrachan (JLL), Matthew Polhemus (JLL)

The transaction involves Pegasus Capital Advisors as the tenant, leasing space from The Shorenstein Co. The deal is represented by Keith Caggiano from Avison Young for the tenant, while Matthew Astrachan and Matthew Polhemus, both from JLL, represent the landlord.

Players

Matthew Astrachan

JLL

Broker

$49.5M

vol

17 deals

Broker
TC
The Shorenstein CoLandlord

New York CRE Market Snapshot

Boundary boundary · CRE · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93