Persistent Systems LLC Leases 55000 Square Feet From RXR Realty At 198 12th Ave New York
198 12th Ave, New York, NY, 10001
Building Size
55,000 SF
Asset Type
—
Closing
Nov 20, 2023
About this deal
AI
The property asset involved in this transaction is located at 198 12th Ave, New York, NY, 10001. This lease transaction encompasses a total of 55,000 square feet within the New York market.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not specified
- Address: 198 12th Ave, New York, NY, 10001
- Market: New York
- Tenant: Persistent Systems LLC
- Landlord: RXR Realty
- Tenant's Representatives: Jordan Gosin (Newmark), Joshua (Josh) Gosin (Newmark), John Michael Cilmi (Newmark Knight Frank)
The transaction features key representatives from Newmark, including Jordan Gosin and Joshua (Josh) Gosin, alongside John Michael Cilmi from Newmark Knight Frank. Persistent Systems LLC is the tenant securing the lease from RXR Realty, indicating collaboration between notable entities in the New York real estate market.
On the Map
Players
New York CRE Market Snapshot
Boundary boundary · CRE · Lease transactions
Loading comparables…
Deal FAQ
Browse New York leases on Traded.
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