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400 Garden City PLZ, Garden...

Moritt, Hock & Hamroff Leases 32,000 SF Office Space At 400 Garden City PLZ
LEASEDOffice

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

Kraig Silver

Treeline Cos

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