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245 Park Ave, New York, NY,...

Midocean Partners Leases 38383 Square Feet At 245 Park Ave With Rabobank As Landlord
LEASEDCommercial

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:

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

David Falk
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David Falk

Newmark

Broker

61 deals

Broker

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