Midocean Partners Leases 38383 Square Feet At 245 Park Ave With Rabobank As Landlord
245 Park Ave, New York, NY, 10167
Building Size
38,383 SF
Asset Type
Commercial
Closing
Nov 13, 2019
AI
The property involved in the transaction is located at 245 Park Ave, New York, NY, 10167. This lease transaction involves a total area of 38,383 square feet within the New York market.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not specified
- Address: 245 Park Ave, New York, NY, 10167
- Market: New York
- Tenant: Midocean Partners
- Landlord: Rabobank
- Tenant's Rep: Gregory Tosko (CBRE)
- Landlord's Reps: Brett Shannon (CBRE), Daniel Wilpon (CBRE), Jeffrey Frenkel (CBRE)
- Brokers: David Falk (Newmark), Jason Greenstein (Newmark)
The transaction was facilitated by representatives from CBRE and Newmark, with Gregory Tosko representing the tenant while Brett Shannon, Daniel Wilpon, and Jeffrey Frenkel represented the landlord. David Falk and Jason Greenstein, both from Newmark, contributed to the brokerage aspects of the agreement.
Players
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