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MedRite Urgent Care Signs 10-Year Lease For Office Space At 437 Fifth Avenue In Midtown Manhattan

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LEASED
Zach Parisi
Tyler King
+ 2

New York

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Office2,300 SF
Leased 08/22/2022
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Property Image
LEASED

MedRite Urgent Care Signs 10-Year Lease For Office Space At 437 Fifth Avenue In Midtown Manhattan

437 5th Avenue, New York City, New York 10016, United States

See Similar Deals
Office2,300 SF
Leased 08/22/2022
Zach Parisi
Tyler King
+ 2
Contact now

Summary

NEW YORK
Asset Type:Office
Total Square Footage:2,300 SF
Transaction Type:Lease

The leased property involved in this transaction is an office space located at 437 Fifth Avenue in Midtown. The property is leased by MedRite Urgent Care for a term of 10 years. The asking rent for the space was $250 per square foot and the total square footage is 2,300. The lease was negotiated by the tenant's representatives, Zach Parisi and Gary Trock from CBRE, and the landlord's representatives, Ariel Schuster and Tyler King from Newmark.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: Not applicable
  • Address: 437 Fifth Avenue
  • Market: Midtown
  • Tenant: MedRite Urgent Care
  • Landlord: Joseph P. Day Realty
  • Asking Rent: $250/ft.
  • Square Footage: 2,300
  • Lease Terms: 10-year

The landlord of the property is Joseph P. Day Realty, represented by Rick Brickell. MedRite Urgent Care is the tenant, and they were represented by Zach Parisi and Gary Trock from CBRE. The landlord's representatives in the transaction were Ariel Schuster and Tyler King from Newmark.

Players

Ariel Schuster
27 deals$461.2M volume
BROKER

Tyler King
Newmark
5 deals$119.1M volume
BROKER

Zach Parisi
CBRE
4 deals
BROKER

Gary Trock
CBRE
5 deals$31M volume
BROKER


TENANT

Details

LEASED
IMAGE: Ariel Schuster, Zach Parisi, Rick Brickell, Gary Trock & Tyler King DATE: 08/22/2022 ADDRESS: 437 Fifth Avenue MARKET: Midtown ASSET TYPE: Office LANDLORD: Joseph P. Day Realty - Rick Brickell TENANT: MedRite Urgent Care TENANT'S REP: Zach Parisi & Gary Trock (@GTrock1) - CBRE (@CBRE) LANDLORD'S REP: Ariel Schuster & Tyler King - Newmark (@Newmark) ASKING RENT: $250/ft. ~ SF: 2,300 LEASE TERMS: 10-year

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Deal Type
Effective Rent (Annual)

$131,834.61

Total Lease Value

$1,318,346.12

Net Landlord Cash Flow$131,834.61