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3 Park Ave, New York, NY, 1...

Zeta International Holdings Leases Office Space At 3 Park Ave In New York
LEASEDOffice

Zeta International Holdings Leases Office Space At 3 Park Ave In New York

3 Park Ave, New York, NY, 10016

Building Size

23,000 SF

Asset Type

Office

Closing

Jan 18, 2019

AI

The office property located at 3 Park Ave, New York, NY, 10016, in the bustling market of New York, spans over 23,000 square feet. It was part of a lease transaction dated January 18, 2019, between the tenant, Zeta International Holdings, and the landlord, Cohen Brothers Realty. The tenant's representative in this deal was Michael (Mike) Mathias from Cushman & Wakefield.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not Applicable
  • Address: 3 Park Ave, New York, NY, 10016
  • Market: New York
  • Tenant: Zeta International Holdings
  • Landlord: Cohen Brothers Realty
  • Square Feet: 23,000
  • Tenant's Rep: Michael (Mike) Mathias (Cushman & Wakefield)

The collaboration between Zeta International Holdings, represented by Michael (Mike) Mathias of Cushman & Wakefield, and Cohen Brothers Realty paved the way for a significant lease transaction, marking an important move in the commercial real estate market of New York. The negotiation process and agreement reached highlight the professional expertise and strategic decision-making of the individuals and companies involved in this office lease deal.

Players

Michael Mathias

Cushman & Wakefield

Broker

11 deals

Broker

Cohen Brothers

Cohen Brothers Realty

Landlord

15 deals

Landlord

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