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2417 Third Ave., Port Morri...

Cayuga Centers Leases Office Space In Mott Haven To ZG Capital Partners
LEASEDOffice

Cayuga Centers Leases Office Space In Mott Haven To ZG Capital Partners

2417 Third Ave., Port Morris, The Bronx, NY, USA

Building Size

14,000 SF

Asset Type

Office

Closing

Feb 14, 2021

AI

An office space located at 2417 Third Ave in the Mott Haven market has been leased. The tenant, Cayuga Centers, has taken up a space measuring approximately 14,000 square feet. The lease transaction was completed on February 15, 2021.

Summary of transaction details:

  • Property Type: Office
  • Transaction Date: 02/15/2021
  • Address: 2417 Third Ave
  • Market: Mott Haven
  • Tenant: Cayuga Centers
  • Landlord: ZG Capital Partners
  • Tenant Representative: Linda Lebowitz & Manny Puello - Fieldston Properties
  • Landlord Representative: Andrew Roth - EXR Somerset
  • Asking Rent: $35/ft.
  • Square Footage: 14,000

The lease was facilitated by the tenant representatives, Linda Lebowitz and Manny Puello from Fieldston Properties, and the landlord was represented by Andrew Roth from EXR Somerset.

Players

Andrew J. Roth

Somerset Residential

Broker

$11.5M

vol

13 deals

Broker
Capital Partners
Capital PartnersLandlord

Bronx 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