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400 Garden City PLZ, Garden...

Scully, Scott, Murphy & Presser Renews 22k SF Lease At 400 Garden City Plaza
LEASEDOffice

Scully, Scott, Murphy & Presser Renews 22k SF Lease At 400 Garden City Plaza

400 Garden City PLZ, Garden City, NY...

Building Size

22,000 SF

Asset Type

Office

Closing

Oct 18, 2016

AI

The property involved in the transaction is an office asset located at 400 Garden City Plaza in Garden City, NY. The lease signed by Scully, Scott, Murphy & Presser for 22,000 square feet was a renewal deal. The tenant was represented by Richard Freel and Vincent LaManna from CBRE.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not Applicable
  • Address: 400 Garden City Plaza, Garden City, NY
  • Market: Garden City
  • Tenant: Scully, Scott, Murphy & Presser
  • Landlord: Treeline Cos
  • Square Feet: 22,000
  • Tenant's Rep: Richard Freel (CBRE), Vincent LaManna (CBRE)

The lease deal at 400 Garden City Plaza was facilitated by CBRE's Richard Freel and Vincent LaManna, who represented the tenant, Scully, Scott, Murphy & Presser, in the 22,000 square feet renewal.

Players

Richard Freel

CBRE

Broker

2 deals

Broker
Treeline Cos
Treeline CosLandlord

Garden City 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