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21 East 22nd Street

EmblemHealth Renews Lease For 18,390 SF Office Space In Flatiron, Manhattan
LEASEDOffice

EmblemHealth Renews Lease For 18,390 SF Office Space In Flatiron, Manhattan

21 East 22nd Street

$100

$100/SF

Building Size

18,390 SF

Asset Type

Office

Closing

Jan 25, 2024

AI

EmblemHealth, the largest nonprofit health insurer in the U.S., has renewed its lease for 18,390 square feet at 21 East 22nd Street in the Flatiron district for another nine years. The office space is situated in Flatiron, Manhattan and has been leased by EmblemHealth at an asking rent of $100 per square foot.

Summary of transaction details:

EmblemHealth, represented by Karen Ignagni, has chosen to renew their lease for office space at 21 East 22nd Street. The lease was facilitated by Colliers International, with Brian Given and Sheena Gohil acting as the tenant's representatives. On the other side of the deal, Newmark represented the landlord, with Jeffrey Roseman and Richard Gelber working on their behalf.

Players

Brian Given

Colliers

Broker

$12.7M

vol

6 deals

Broker

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

158630.00%

Cash-on-Cash

-45336.94%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93