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400 Park Avenue, Huntington...

Northwell Health Leases Medical Office Building At 400 Park Ave In Huntington For $8.3M
LEASEDOffice

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

Robert Kuppersmith

Cushman & Wakefield

Broker

$69.9M

vol

11 deals

Broker
NH
Northwell HealthTenant

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