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:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 215 Park Avenue South
- Market: Midtown South
- Landlord: SL Green Realty
- Tenant: Aboard Holdings
- Landlord's Representative: Gary M. Rosen & Howard Tenenbaum - SL Green Realty
- Tenant's Representative: Raphael Zar & Eric Siegel - LSL Advisors
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
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