Upper Manhattan Empowerment Zone Development Corporation Leases 9,000 Square Feet In Harlem From Taconic Partners
119 West 125th Street
Building Size
9,000 SF
Asset Type
Office
Closing
Sep 11, 2026
About this deal
AI
The property involved in this transaction is an office space located at 119 West 125th Street, situated in Harlem, Manhattan. The total square footage of the asset is 9,000 square feet. This lease arrangement allows for the relocation of the tenant's headquarters.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Address: 119 West 125th Street
- Market: Harlem, Manhattan
- Landlord: Charles Bendit - Taconic Partners
- Tenant: Upper Manhattan Empowerment Zone Development Corporation
- Landlord's Rep: Chris Mongeluzo, Brian Cohen, Eric Zemachson & Christopher Ventura - Newmark
- Tenant's Rep: Ruth Colp-Haber - Wharton Property Advisors
The Upper Manhattan Empowerment Zone Development Corporation signed the lease, moving from its previous location at 55 West 125th Street. The landlord's team includes representatives from Newmark, while the tenant is represented by Wharton Property Advisors.
On the Map
Office
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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