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126 E 56th St, New York, NY...

Winston Art Group Leases 5882 Square Feet At 126 E 56th St New York From Pearlmark Real Estate Partners
LEASEDOffice

Winston Art Group Leases 5882 Square Feet At 126 E 56th St New York From Pearlmark Real Estate Partners

126 E 56th St, New York, NY, 10022

$94

$94/SF

Building Size

5,882 SF

Asset Type

Office

Closing

Sep 27, 2016

AI

The lease transaction involves a property located at 126 E 56th St, New York, NY, 10022, situated in the New York market. The property has a rent rate of $94 per square foot and encompasses a total area of 5,882 square feet.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not specified
  • Tenant: Winston Art Group
  • Landlord: Pearlmark Real Estate Partners
  • Tenant's Representative: Charles T. Gerace II - JLL
  • Landlord's Representatives: Harry Blair, Heather Thomas - Cushman & Wakefield
  • Borrower's Representative: Christopher (Chris) Kramer - Newmark

This transaction involves key individuals representing both sides. Charles T. Gerace II from JLL represents the tenant, while Harry Blair and Heather Thomas from Cushman & Wakefield represent the landlord. Christopher (Chris) Kramer from Newmark acts as the representative for the borrower in this deal.

Players

Christopher Kramer

Newmark

Broker

$23B

vol

115 deals

Broker
CBRE
CBREBrokerage

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

168755.32%

Cash-on-Cash

-48230.79%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93