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
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