Millburn Ridgefield Corp Leases Office Space On 48 W 47th St, New York
48 W 47th St, New York, NY, 10036
Building Size
22,523 SF
Asset Type
Office
Closing
May 31, 2018
AI
The office property located at 48 W 47th St, New York, NY, 10036, boasts a total area of 22,523 square feet. The lease for this property was finalized on 05/31/2018 in the vibrant New York market. The tenant, Millburn Ridgefield Corporation, was represented by Scott Gottlieb of CBRE, while the landlord, SL Green Realty Corp., was involved in the transaction. Laurence Briody, Jr. of CBRE also played a role as one of the brokers in this deal.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Tenant's Rep: Scott Gottlieb (CBRE)
- Brokers: Laurence Briody, Jr. (CBRE)
The lease agreement for the office space at 48 W 47th St was a collaborative effort with the tenant represented by Scott Gottlieb from CBRE. The landlord, SL Green Realty Corp., facilitated the transaction, showcasing a well-negotiated deal in the bustling market of New York.
Players
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