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619 W 54th St, New York, NY...

New York Stem Cell Foundation Leases 42000 Square Feet From Taconic Investment Partners In New York
LEASEDOffice

New York Stem Cell Foundation Leases 42000 Square Feet From Taconic Investment Partners In New York

619 W 54th St, New York, NY, 10019

Building Size

42,000 SF

Asset Type

Office

Closing

Dec 8, 2015

AI

The property involved in this transaction is located at 619 W 54th St, New York, NY, 10019. It has a total square footage of 42,000 square feet and is situated in the New York market. The lease agreement was signed by the New York Stem Cell Foundation for a duration of 21 years.

Summary of transaction details:

This transaction involved multiple parties, with Gary Kamenetsky from CBRE representing the tenant, New York Stem Cell Foundation. The landlord, Taconic Investment Partners, was represented by Kristen Morgan from JLL, Ellen Israel from JRT Realty Group, and Gregory Smith.

Players

Gregory Smith

Broker

10 deals

Broker

New York Office Market Snapshot

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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