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770 Lexington Ave, New York...

Hospital For Special Surgery Leases Office Space In New York City
LEASEDOffice

Hospital For Special Surgery Leases Office Space In New York City

770 Lexington Ave, New York, NY, 100...

Building Size

17,000 SF

Asset Type

Office

Closing

Nov 7, 2018

AI

The property involved in this lease transaction is an office space located at 770 Lexington Ave, New York, NY, encompassing a total area of 17,000 square feet. The asset is situated in the New York market.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not disclosed
  • Address: 770 Lexington Ave, New York, NY, 100...
  • Square Feet: 17,000
  • Tenant: Hospital for Special Surgery
  • Landlord: Terra Holdings
  • Tenant's Representative: Michael Dubin-Savitt Partners
  • Date: 11/07/2018

This lease transaction involved key representatives from both the tenant and landlord. Michael Dubin served as the representative for the Hospital for Special Surgery, while Terra Holdings represented the interests of the landlord in this agreement.

Players

Michael Dubin

Savitt Partners

Broker

2 deals

Broker
TH
Terra HoldingsLandlord
HS
Hospital for Special SurgeryTenant

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