Moritt, Hock & Hamroff Leases 32,000 SF Office Space At 400 Garden City PLZ
400 Garden City PLZ, Garden City, NY...
Building Size
32,000 SF
Asset Type
Office
Closing
Oct 18, 2016
AI
400 Garden City Plaza in Garden City, NY, was the location for the lease transaction involving an office space spanning 32,000 square feet. The landlord, Treeline Cos, secured a renewal and expansion deal with the tenant Moritt, Hock & Hamroff.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not provided
- Address: 400 Garden City PLZ, Garden City, NY
- Market: Garden City
- Tenant: Moritt, Hock & Hamroff
- Landlord: Treeline Cos
- Square Feet: 32,000
Noteworthy individuals involved in this lease deal were Kraig Silver from Treeline Cos, representing the landlord in the transaction, and CBRE’s Robert Seidenberg, who served as the tenant's representative. The renewed long-term lease at 400 Garden City Plaza contributes to the overall commercial real estate activity in the Garden City market.
Players
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