Medrite Signs NNN Lease For Retail Space At 220 E 42nd St In Midtown East With Landlord SL Green Realty And Tenant's Rep Greg Parassio - Booth Street
220 E 42nd St New York, NY 10017, USA
$84
$84/SF
Building Size
4,722 SF
Asset Type
Retail
Closing
Sep 5, 2022
About this deal
AI
The recently leased property in Midtown East at 220 E 42nd St has garnered attention in the real estate market. The asset type is a retail space, which spans approximately 4,722 square feet. The lease, signed on September 5, 2022, follows the NNN Lease model and features an asking rent of $84 per square foot.
Summary of transaction details
- Property Type: Retail
- Transaction Date: September 5, 2022
- Address: 220 E 42nd St
- Market: Midtown East
- Asking Rent: $84/ft.
- Square Footage: 4,722
SL Green Realty is the landlord in this deal, while Medrite is the tenant. Representing the landlord is Ariel Schuster from Newmark, and the tenant is represented by Greg Parassio from Booth Street. These individuals and companies played pivotal roles in finalizing the lease agreement.
On the Map
$84
$84/SF
Retail
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Players
New York Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
188845.24%
Cash-on-Cash
-53972.55%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93