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83 3rd Avenue

Updated Oct 29, 2024

Jeremiah Program Leases 5,500 RSF Office Space On Third Avenue In New York City
LEASEDMixed-use

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

About this deal

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.

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$50

$50/SF

Mixed-use

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Players

Jon Kamali

J3K Real Estate

Broker

$139.3M

vol

31 deals

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Market Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Lease transactions

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Deal FAQ

About $50 per square foot on a published $50 for 5,500 square feet (2023).

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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

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