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12 East 46th Street

Midtown East Physical Therapy Leases Office Space At 12 East 46th Street In New York City
LEASEDMultiFamily

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

Aric Trakhtenberg

Newmark

Broker

$8.3M

vol

52 deals

Broker
AP
ABS PartnersLandlord
MT
Midtown East Physical TherapyTenant

Market MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Lease transactions

Loading comparables…

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