Itay Gamlieli Of Avenues Real Estate Leases Office Space In Midtown Manhattan
9 East 37th Street
$40
$40/SF
Building Size
5,000 SF
Asset Type
Office
Closing
Oct 18, 2023
About this deal
AI
The office space at 9 East 37th Street in Midtown South, Manhattan has been leased. The property, measuring 5,000 square feet, was leased on a Modified Gross Lease agreement. The asking rent for the space was $40 per square foot.
Summary of transation details
- Property Type: Office
- Transaction Amount: Lease agreement
- Address: 9 East 37th Street, Midtown South, Manhattan
- Lease Type: Modified Gross Lease
The landlord, ABS Partners Real Estate, represented by John Cinosky and William Carr, facilitated the lease. Itay Gamlieli, a representative from Avenues Real Estate, was the tenant. The tenant was represented by Daniel Lolai, Raphael Zar, and David Lolai from LSL Advisors.
On the Map
$40
$40/SF
Office
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
396575.00%
Cash-on-Cash
-113342.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93