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83 3rd Avenue, New York, NY...

Lifestance Health Leases Office Space At 83 Third Avenue In Downtown Brooklyn
LEASEDOffice

Lifestance Health Leases Office Space At 83 Third Avenue In Downtown Brooklyn

83 3rd Avenue, New York, NY, USA

Building Size

5,500 SF

Asset Type

Office

Closing

Nov 30, 2020

AI

Located at 83 Third Avenue in Downtown Brooklyn, this office space was recently leased in a closed transaction. The tenant, Lifestance Health, will be occupying the premises, while the landlord is Ben Atkins of Abingdon Square Partners. The asset type is an office, offering approximately 5,500 square feet of space.

Summary of transaction details

  • Property Type: Office
  • Address: 83 Third Avenue, Downtown Brooklyn
  • Market: Downtown Brooklyn

Assisting in the deal were brokers Jon Kamali, Andre Sigourney, and Brad Cohen from CBRE. The lease was signed on 12/01/2020, with an asking rent of $50 per square foot for a total of 5,500 square feet of leased space.

It is worth noting that Lifestance Health provides outpatient behavioral health services such as psychiatry, psychology, and talk therapy. They currently operate over 225 clinical offices across 18 states in the United States. Additionally, the company is actively working with CBRE to find additional locations in Upper Manhattan, Brooklyn, and Queens.

83 Third Avenue in Downtown Brooklyn still has approximately 17,000 square feet of space available, with a new building set to be delivered in 2021. No other details are available at this time.

Players

Bradley Cohen

CBRE

Broker

$134.5M

vol

11 deals

Broker

Benjamin Atkins

Abingdon Square Partners

Landlord

$211.8M

vol

8 deals

Landlord

City of Albany 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