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
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93