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216 E 45th St, New York, NY...

LIM College Leases School Space At 216 E 45th St, New York
LEASEDSchool

LIM College Leases School Space At 216 E 45th St, New York

216 E 45th St, New York, NY, 10017

Building Size

60,000 SF

Asset Type

School

Closing

Feb 4, 2021

AI

The school located at 216 E 45th St, New York, NY, 10017, in the market of New York, spans 60,000 square feet. The lease for this property was finalized on February 4, 2021, between LIM College as the tenant and Bernstein Real Estate as the landlord.

Summary of transaction details:

The tenant's representatives in the deal were Michael Okun from Cresa and Richard Selig from Cresa. On the landlord's side, Peter Liptrot from Bernstein Real Estate and Vincent Terranova from Bernstein Real Estate facilitated the lease agreement.

Players

Peter Sabesan

Broker

7 deals

Broker
Bernstein Real Estate
Bernstein Real EstateLandlord

New York School Market Snapshot

Boundary boundary · School · 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