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11 Times Square, New York, ...

SJP Properties Leases 24412 SF Medical Office To Paige In New York
LEASEDMedical Office

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

Neil Goldmacher

Newmark

Broker

16 deals

Broker
SJP Properties
SJP PropertiesLandlord

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