Ermani Group Leases Office Space In Midtown West From MJ Property Group For $185,250/year
237 W 37th St, New York, NY 10018, USA
Building Size
4,750 SF
Asset Type
Office
Closing
Aug 31, 2020
About this deal
AI
The recent lease transaction in Midtown West involved an office space located at 237 West 37th Street. The property, spanning 4,750 square feet, was leased by Ermani Group for a term of 8 years. The asking rent for this space was $39 per square foot.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: N/A
- Address: 237 West 37th Street
- Market: Midtown West
In this deal, the tenant, Ermani Group, was represented by Tony Builder of Walter & Samuels. On the other side, Mark Gindi from MJ Property Group acted as the landlord's representative.
On the Map
Office
View full map
Players
New York Office Market Snapshot
Boundary boundary · Office · Lease transactions
Loading comparables…
Deal FAQ
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