Midtown East Physical Therapy Leases Office Space At 12 East 46th Street In New York City
12 East 46th Street
$50
$50/SF
Building Size
2,555 SF
Asset Type
MultiFamily
Closing
Mar 30, 2023
AI
The recently closed lease transaction in New York City involved an office space located at 12 East 46th Street. The property, measuring 2,555 square feet, was leased by Midtown East Physical Therapy. The lease term for this transaction was set at 10 years. The asking rent for this space was $50 per square foot.
Summary of transaction details
- Property Type: Office
- Asking Rent: $50/ft
- Address: 12 East 46th Street
- Tenant: Midtown East Physical Therapy
- Lease Term: 10 years
ABS Partners represented the landlord in this lease agreement. Elisa Larson, from ABS Partners Real Estate, acted as the landlord's representative. On the other hand, Aric Trakhtenberg from Newmark represented Midtown East Physical Therapy as their tenant's representative.
Players
Market MultiFamily Market Snapshot
Boundary boundary · MultiFamily · 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