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
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