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167 Veterans Memorial Highway

NYU Langone Signs 15-Year Lease At 167 Veterans Memorial Highway In Commack
LEASEDOffice

NYU Langone Signs 15-Year Lease At 167 Veterans Memorial Highway In Commack

167 Veterans Memorial Highway

$33

$33/SF

Building Size

17,150 SF

Asset Type

Office

Closing

Feb 1, 2023

AI

The property involved in this lease transaction is located at 167 Veterans Memorial Highway in Commack. It is a mixed-use office/retail space with a total of 17,150 square feet. The landlord, Frank Nick, has entered into a lease agreement with NYU Langone as the tenant.

Summary of transaction details

  • Property Type: Office/Retail
  • Transaction Amount: Not specified
  • Address: 167 Veterans Memorial Highway, Commack
  • Market: Commack
  • Tenant: NYU Langone
  • Landlord: Frank Nick

The lease term for this agreement is set at 15 years. The landlord is represented by Michael Gronenthal and Michael Murphy, while Ted Stratigos from Avison Young serves as the tenant's representative in the deal.

Players

Michael Gronenthal

Douglas Elliman

Broker

$106.7M

vol

38 deals

Broker
NU
New York UniversityTenant

Market 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

480696.97%

Cash-on-Cash

-137384.67%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93