New York City Department Of Health And Mental Hygiene Leases 60476 Square Feet From Citibank
One Court Square, New York, NY, 11101
Building Size
60,476 SF
Asset Type
Office
Closing
Aug 11, 2016
AI
The property involved in this transaction is located at One Court Square, New York, NY, 11101. It spans a total of 60,476 square feet and is situated in the Long Island City market. The landlord of the property is Citibank, while the tenant is the New York City Department of Health and Mental Hygiene.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not Disclosed
- Address: One Court Square, New York, NY, 11101
- Market: Long Island City
- Square Feet: 60,476
- Tenant's Representative: Ellen Israel - JRT Realty Group
- Landlord's Representative: John Reinertsen - CBRE
Ellen Israel represented the tenant, New York City Department of Health and Mental Hygiene, in the lease transaction. John Reinertsen represented the landlord, Citibank. The transaction was handled effectively with both representatives demonstrating their respective roles in the deal.
Players
Long Island City 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