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424 Park Ave S, New York, N...

Pumpkin Pet Insurance Leases 10000 Square Feet At 424 Park Ave S New York From Samco Properties
LEASEDOffice

Pumpkin Pet Insurance Leases 10000 Square Feet At 424 Park Ave S New York From Samco Properties

424 Park Ave S, New York, NY, 10016

Building Size

10,000 SF

Asset Type

Office

Closing

Nov 19, 2023

AI

The lease transaction involves a property located at 424 Park Ave S, New York, NY, 10016, covering a total area of 10,000 square feet within the New York market.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not specified
  • Address: 424 Park Ave S, New York, NY, 10016
  • Market: New York
  • Square Feet: 10,000
  • Tenant: Pumpkin Pet Insurance
  • Landlord: Samco Properties
  • Tenant's Representatives: Lee Doyle, Jeffrey Rosenblatt (Lincoln Property Co)
  • Landlord's Representative: Brett Harvey (JLL)

The key individuals involved in the transaction include representatives from Lincoln Property Company for the tenant, and JLL for the landlord, facilitating the lease agreement between Pumpkin Pet Insurance and Samco Properties.

Players

Brett Harvey

Newmark

Broker

$270M

vol

28 deals

Broker
JLL
JLLBrokerage

New York 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