SJP Properties Leases 24412 SF Medical Office To Paige In New York
11 Times Square, New York, NY, 10036
Building Size
24,412 SF
Asset Type
Medical Office
Closing
Oct 7, 2021
AI
11 Times Square is a medical office asset located in New York, NY, encompassing 24,412 square feet. This property is situated in a prominent market area, catering to medical tenants and services.
Summary of transaction details:
- Property Type: Medical Office
- Transaction Amount: Not specified
- Date of Transaction: 10/07/2021
- Address: 11 Times Square, New York, NY, 10036
- Landlord: SJP Properties
- Tenant: Paige
- Brokers: Neil Goldmacher-Newmark
The transaction involved SJP Properties as the landlord, leasing the medical office space to Paige. Neil Goldmacher from Newmark represented the landlord in this lease agreement. This transaction fits within New York's medical office market dynamics.
Players
New York Medical Office Market Snapshot
Boundary boundary · Medical Office · 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