Icahn School Of Medicine At Mount Sinai Leases 165,000 Sq Ft Office In New York
787 11th Ave, New York, NY, 10019
Building Size
165,000 SF
Asset Type
Office
Closing
Mar 4, 2021
AI
The property at 787 11th Ave, New York, NY, 10019, in the New York market, is an office space spanning 165,000 square feet. The lease transaction was finalized on 03/04/2021, with The Georgetown Co as the landlord and Icahn School of Medicine at Mount Sinai as the tenant. Robert Martinez of Rockstar Capital represented the tenant, while Peter Riguardi and Steven Rotter of JLL represented the landlord.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not Applicable
- Tenants' Rep: Robert Martinez (Rockstar Capital)
- Landlords' Rep: Peter Riguardi (JLL), Steven Rotter (JLL)
- Tenant: Icahn School of Medicine at Mount Sinai
- Landlord: The Georgetown Co
Notable figures involved in the lease deal at 787 11th Ave include Robert Martinez from Rockstar Capital serving as the tenant's representative. On the landlord's side, the representation was handled by Peter Riguardi and Steven Rotter, both from JLL. The choice of The Georgetown Co as the landlord and the Icahn School of Medicine at Mount Sinai as the tenant underscores the strategic importance of this transaction in the New York office market.
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