MiDoctor Urgent Care Leases Mixed-Use Space On Upper East Side NYC
1220 3rd Avenue, Manhattan, New York, NY, USA
Building Size
3,215 SF
Asset Type
Mixed-use
Closing
Oct 19, 2021
AI
The mixed-use property located at 1220 Third Avenue on the Upper East Side has been leased.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Date: 10/19/2021
- Address: 1220 Third Avenue
- Market: Upper East Side
The landlord for this lease is The Townsend House Corporation, represented by Ashley Perfall. The tenant, MiDoctor Urgent Care, was represented by Michelle Abramov from Asset Commercial Realty Group (AssetCRG).
Christian Stanton and Matthew Ball from Cushman & Wakefield acted as the landlord's representatives in this deal.
The asking rent for the property was $170 per square foot, with a total square footage of 3,215.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · 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