Jeremiah Program Leases 5,500 RSF Office Space On Third Avenue In New York City
83 3rd Avenue
$50
$50/SF
Building Size
5,500 SF
Asset Type
Mixed-use
Closing
Feb 1, 2023
AI
Jeremiah Program, a national non-profit organization, has signed a lease for a 5,500 square foot office space on the second floor of 83 Third Avenue in New York City. The new location is strategically positioned across the street from the Human Resource Administration Office, which offers various public benefits including SNAP and Medicaid. The office lease was facilitated by Megan Hait from Sotheby's International Realty.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Lease
- Address: 83 Third Avenue, New York City
- Market: New York City
- Tenant: Jeremiah Program
- Asking Rent: $50/ft
- Square Footage: 5,500
- Landlord's Representative: Jon Kamali, Jeremy Kamali, Justin Kamali - J3K Real Estate
- Tenant's Representative: Megan Hait - Sotheby's International Realty
Jeremiah Program's mission is to disrupt the cycle of poverty for single mothers and their children. The organization will join other tenants in the building, including Lifestance Health Inc., Homage Skateboard School, and BYKLN Cycling Studio. The remaining 4,000 square feet of ground floor retail space at 83 Third Avenue is exclusively marketed by J3K Real Estate.
For more information and a 360 Tour of the property, visit www.J3K.com.
Players
Market 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
317260.00%
Cash-on-Cash
-90673.88%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93