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

Ermani Group Leases Office Space In Midtown West From MJ Property Group For $185,250/year
LEASEDOffice

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

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.

Players

EG
Ermani GroupTenant

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