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
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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