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110 East 42nd Street

Braverman Greenspun Extends 14000 Square Foot Lease At 110 East 42nd Street Through 2038
LEASEDOffice

Braverman Greenspun Extends 14000 Square Foot Lease At 110 East 42nd Street Through 2038

110 East 42nd Street

Building Size

14,000 SF

Asset Type

Office

Closing

Dec 5, 2024

AI

The property is an office asset located at 110 East 42nd Street in the Midtown market. The total square footage of the property is 14,000. Braverman Greenspun has extended its lease in this Meadow Partners-owned building through 2038, with updates planned for the office space to accommodate the law firm's growth.

Summary of transaction details:

This transaction involved Jeff Kaplan representing the landlord, Meadow Partners, while the tenant, Robert Braverman of Braverman Greenspun, was represented by Eric Hazen and Matthias Li from Cushman & Wakefield. The landlord's representatives from Newmark, Brittany Silver and Jonathan Franzel, played a crucial role in facilitating the lease extension agreement.

Players

Matthias Li

Cushman & Wakefield

Broker

$10.7M

vol

7 deals

Broker

Brooklyn 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