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198 12th Ave, New York, NY,...

Persistent Systems LLC Leases 55000 Square Feet From RXR Realty At 198 12th Ave New York
LEASED

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

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.

Players

Jordan Gosin

Newmark

Broker

10 deals

Broker
RXR Realty
RXR RealtyLandlord

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