Prestige Health & Wellness Leases 6,500-SF Commercial Space In NoMad
31 East 32nd Street New York, New York 10016, USA
Building Size
6,500 SF
Asset Type
Commercial
Closing
Aug 18, 2023
AI
Prestige Health & Wellness has signed a 10-year lease for a 6,500-square-foot space at 31 East 32nd St in NoMad. The commercial property, managed by Windsor Management, offers a prime location in the bustling market of NoMad.
Summary of transaction details
- Property Type: Commercial
- Transaction Amount: Not specified
- Square Footage: 6,500
- Address: 31 East 32nd Street
- Market: NoMad
- Landlord: Windsor Management
- Tenant: Prestige Health & Wellness
- Brokers: Catherine O’Toole, David Scher & Rory O’Connor - Lee & Associates
The lease agreement was facilitated by Catherine O’Toole, David Scher, and Rory O’Connor of Lee & Associates, acting as Prestige Health & Wellness' broker representatives in the deal. This partnership between the tenant and the landlord allows Prestige Health & Wellness to establish a presence in the vibrant NoMad market and serve its clientele effectively.
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