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:
- Property Type: School
- Transaction Amount: Not Applicable
- Tenant's Rep: Michael Okun (Cresa), Richard Selig (Cresa)
- Landlord's Rep: Peter Liptrot (Bernstein Real Estate), Vincent Terranova (Bernstein Real Estate)
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
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