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12 East 46th Street, New Yo...

Midtown East Physical Therapy Signs 10-Year Lease For Office Space At 12 East 46th Street, New York City
LEASEDOffice

Midtown East Physical Therapy Signs 10-Year Lease For Office Space At 12 East 46th Street, New York City

12 East 46th Street, New York City, New York 10017, United States

Building Size

2 SF

Asset Type

Office

Closing

Mar 30, 2023

AI

An office space located at 12 East 46th Street in New York City has recently been leased. The lease was signed on 03/30/2023 for a term of 10 years. The property, spanning 2,555 square feet, was leased by Midtown East Physical Therapy. The landlord for this transaction is ABS Partners, while the tenant was represented by Aric Trakhtenberg from Newmark. Elisa Larson from ABS Partners Real Estate acted as the landlord's representative in the deal. The asking rent for this lease was $50 per square foot.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Leased
  • Address: 12 East 46th Street, New York City
  • Tenant: Midtown East Physical Therapy
  • Landlord: ABS Partners
  • Tenant's Representative: Aric Trakhtenberg - Newmark
  • Landlord's Representative: Elisa Larson - ABS Partners Real Estate
  • Asking Rent: $50 per square foot
  • Lease Term: 10 years

In this lease transaction, Midtown East Physical Therapy secured an office space at 12 East 46th Street, New York City. The tenant was represented by Aric Trakhtenberg from Newmark, while Elisa Larson from ABS Partners Real Estate acted as the landlord's representative. The lease term is set for 10 years, and the asking rent for the property was $50 per square foot.

Players

Aric Trakhtenberg

Newmark

Broker

$8.3M

vol

52 deals

Broker
AP
ABS PartnersLandlord
MT
Midtown East Physical TherapyTenant

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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93