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1 W 48th St, New York, NY, ...

EHE International Leases 66000 Sq Ft Commercial Space At 1 W 48th St, New York
LEASEDCommercial

EHE International Leases 66000 Sq Ft Commercial Space At 1 W 48th St, New York

1 W 48th St, New York, NY, 10020

Building Size

66,000 SF

Asset Type

Commercial

Closing

Nov 22, 2023

AI

The commercial property located at 1 W 48th St, New York, NY, 10020, boasting 66,000 square feet, was part of a recent lease transaction in New York. The landlord, Tishman Speyer, entered into an agreement with the tenant, EHE International. The deal was facilitated by Peter Cento from SquareFoot.

Summary of transaction details:

  • Property Type: Commercial
  • Transaction Amount: Not disclosed
  • Tenant: EHE International
  • Tenant's Rep: Peter Cento (SquareFoot)
  • Landlord: Tishman Speyer
  • Address: 1 W 48th St, New York, NY, 10020
  • Market: New York
  • Square Feet: 66,000

The lease agreement at 1 W 48th St involved EHE International as the tenant, known for their presence in the healthcare industry. Representing EHE International was Peter Cento from SquareFoot, ensuring a smooth transaction for the tenant. On the other side, Tishman Speyer, a prominent real estate developer and landlord, finalized the deal, securing a valuable tenant for their commercial asset in New York.

Players

Peter Cento

SquareFoot

Broker

2 deals

Broker
Tishman Speyer
Tishman SpeyerLandlord

New York Commercial Market Snapshot

Boundary boundary · Commercial · 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