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
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