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633 3rd Avenue, Manhattan, ...

Updated Oct 28, 2024

MREA Leases Office Space At 633 Third Avenue In Midtown Manhattan
LEASEDOffice

MREA Leases Office Space At 633 Third Avenue In Midtown Manhattan

633 3rd Avenue, Manhattan, New York, NY, USA

Building Size

1,000 SF

Asset Type

Office

Closing

May 9, 2021

About this deal

AI

633 Third Avenue, located in Midtown Manhattan, has been recently leased. The property, an office space, was leased by MREA, a new commercial real estate brokerage. The landlord of the property is Maze Health. Chris Keegan, representing MREA as their broker, facilitated the deal. The leasing transaction took place on 05/10/2021.

Summary of transaction details:

  • Property Type: Office
  • Asking Rent: $80 per square foot
  • Square Footage: 1,000
  • Tenant: MREA
  • Landlord: Maze Health
  • Tenant's Broker: Chris Keegan - Medical Realty Advisors

MREA, a commercial real estate brokerage that specializes in owner-user properties, chose 633 Third Avenue as their new office space. This transaction highlights Maze Health as the property's landlord and Chris Keegan from Medical Realty Advisors as the broker representing MREA. The deal was successfully closed, bringing together the tenant and the landlord for the lease of this Midtown Manhattan office.

For more information about MREA and the roles they are currently hiring for, interested parties can reach out to Chris directly at [email protected].

Players

Chris Keegan

Broker

1 deal

Broker

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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

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