facebook

traded

+ Submit
Home

/

Deals

/

New York

/

Office

/

Lease

/

237 W 37th St, New York, NY...

Ermani Group Leases Office Space In New York From MTS Real Estate
LEASEDOffice

Ermani Group Leases Office Space In New York From MTS Real Estate

237 W 37th St, New York, NY, 10018

Building Size

4,750 SF

Asset Type

Office

Closing

Sep 11, 2020

AI

The office property located at 237 W 37th St, New York, NY, 10018, in the New York market, was leased on 09/11/2020. The transaction involved the Ermani Group as the tenant, leasing 4750 square feet of space from the landlord MTS Real Estate. The Tenant's Representative in this deal was Tony Builder, with Mark Gindi from Gindi Realty Advisors representing the landlord.

Summary of transation details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 237 W 37th St, New York, NY, 10018
  • Market: New York
  • Tenant: Ermani Group
  • Landlord: MTS Real Estate
  • Square Feet: 4750
  • Tenant's Representative: Tony Builder
  • Landlord's Representative: Mark Gindi (Gindi Realty Advisors)

The lease agreement for the office property at 237 W 37th St involved key individuals including Tony Builder representing the tenant, Ermani Group, and Mark Gindi from Gindi Realty Advisors representing the landlord, MTS Real Estate. The deal exemplified a successful negotiation process between the two parties.

Players

Tony Builder

Broker

9 deals

Broker
EG
Ermani GroupTenant

New York Office Market Snapshot

Boundary boundary · Office · Lease transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93