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155 E 44th St, New York, NY...

LeafHome Leases 10,000 SF Marketing HQ At 10 Grand Central In Manhattan
LEASEDOffice

LeafHome Leases 10,000 SF Marketing HQ At 10 Grand Central In Manhattan

155 E 44th St, New York, NY 10017, United States

$92

$92/SF

Building Size

10,000 SF

Asset Type

Office

Closing

Aug 3, 2023

AI

LeafHome, a gutter protection company, has signed a 5.5-year lease for a 10,000-square-foot marketing headquarters at 10 Grand Central in Manhattan's Midtown. The property, owned by Marx Realty, was represented by JLL's brokers Carlee Palmer, Kyle Young, Mitchell Konsker, Simon Landmann, and Thomas Swartz, while CBRE's Maxwell Tarter represented the tenant. The lease was secured at an asking rent of $92 per square foot.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 10 Grand Central
  • Market: Manhattan
  • Landlord: Marx Realty
  • Tenant: LeafHome
  • Landlord's Representative: Carlee Palmer, Kyle Young, Mitchell Konsker, Simon Landmann, and Thomas Swartz - JLL
  • Tenant's Representative: Maxwell Tarter - CBRE
  • Asking Rent: $92/ft
  • Lease Term: 5.5 years

The lease agreement for LeafHome's marketing headquarters at 10 Grand Central was facilitated by JLL's team consisting of Carlee Palmer, Kyle Young, Mitchell Konsker, Simon Landmann, and Thomas Swartz representing the landlord, Marx Realty. On the tenant's side, Maxwell Tarter from CBRE negotiated the lease terms. The deal was finalized with an asking rent of $92 per square foot, securing the space for a 5.5-year duration.

Players

Kyle Young

JLL

Broker

$38.2M

vol

16 deals

Broker
MR
Marx RealtyLandlord

New York Office Market Snapshot

Boundary boundary · Office · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

172423.91%

Cash-on-Cash

-49279.28%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93