Northwell Health Leases Medical Office Building At 400 Park Ave In Huntington For $8.3M
400 Park Avenue, Huntington, NY, USA
Building Size
10,000 SF
Asset Type
Office
Closing
Dec 10, 2020
AI
A 10,000 square foot medical office building located at 400 Park Avenue in Huntington, Long Island has recently been involved in a closed NNN lease transaction. The lease value of the property is $8,294,879.
Summary of transation details
- Property Type: Medical Office (Build to Suit)
- Transaction Amount: $8,294,879
- Address: 400 Park Avenue, Huntington, Long Island
- Tenant: Northwell Health
- Landlord: Wharton Pryce Realty
- BROKERS: Stephen Preuss, Kevin Schmitz & Robert Kuppersmith @TeamPreuss @CushWake
The NNN lease deal was facilitated by brokers Stephen Preuss, Kevin Schmitz, and Robert Kuppersmith. They represented the tenant, Northwell Health, and helped negotiate the agreement with the landlord, Wharton Pryce Realty.
Players
Huntington 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