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215 Park Avenue South

Aboard Holdings Leases Office Space At 215 Park Avenue South In Midtown South For $75/ft
LEASEDOffice

Aboard Holdings Leases Office Space At 215 Park Avenue South In Midtown South For $75/ft

215 Park Avenue South

$75

$75/SF

Building Size

5,092 SF

Asset Type

Office

Closing

Dec 5, 2024

AI

The property involved in this transaction is located at 215 Park Avenue South, situated in the Midtown South market. This office asset encompasses a total square footage of 5,092. The asking rent for this property was set at $75 per square foot and the lease type is a Modified Gross Lease.

Summary of transaction details:

The transaction involved key participants including SL Green Realty as the landlord and Aboard Holdings as the tenant. The representatives for the landlord were Gary M. Rosen and Howard Tenenbaum, while Raphael Zar and Eric Siegel represented the tenant. This highlights the collaboration among experienced professionals in the leasing process.

Players

Eric Siegel

LSL Advisors

Broker

$96M

vol

56 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

211506.67%

Cash-on-Cash

-60449.25%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93