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412 East 147th Street

LIFT & Chances For Children Sign Leases In Bronx With OPEN Impact Real Estate
LEASEDOffice

LIFT & Chances For Children Sign Leases In Bronx With OPEN Impact Real Estate

412 East 147th Street & 424 East 147th Street

Building Size

13,000 SF

Asset Type

Office

Closing

Mar 13, 2024

AI

Located at 412-424 East 147th Street in the Bronx, the office space spans 6,500 square feet. The lease deal involved the landlord, 147 Corp, and tenants LIFT and Chances for Children. LIFT secured a five-year lease for 3,500 square feet, while Chances for Children signed a 10-year lease for 3,000 square feet. The space will be utilized for therapy sessions, administrative offices, and client interactions.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not provided
  • Market: Bronx
  • Tenants: LIFT & Chances for Children

Alexander Smith, Kate Whitman, and Kendall Elliott from OPEN Impact Real Estate facilitated the long-term lease agreements between the tenants and the landlord, tailoring the space to meet the specific needs of LIFT and Chances for Children.

Players

Alexander Smith

OPEN Impact Real Estate

Broker

10 deals

Broker

Bronx 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