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:
- Property Type: Office
- Transaction Amount: Lease extension
- Address: 110 East 42nd Street
- Market: Midtown
- Square Footage: 14,000
- Landlord: Jeff Kaplan - Meadow Partners
- Tenant: Robert Braverman - Braverman Greenspun
- Landlord's Representative: Brittany Silver & Jonathan Franzel - Newmark
- Tenant's Representative: Eric Hazen & Matthias Li - Cushman & Wakefield
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
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