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315 E 62nd St, New York, NY...

New York School Of The Arts Leases 8619 SF At 315 E 62nd St From Olmstead Properties
LEASEDSchool

New York School Of The Arts Leases 8619 SF At 315 E 62nd St From Olmstead Properties

315 E 62nd St, New York, NY, 10065

$62

$62/SF

Building Size

8,619 SF

Asset Type

School

Closing

Oct 4, 2017

AI

The property located at 315 E 62nd St, New York, NY, 10065 encompasses a total of 8,619 square feet. It is situated in the New York market and has a rent rate of $62 per square foot.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not specified
  • Address: 315 E 62nd St, New York, NY, 10065
  • Market: New York
  • Tenant: New York School of the Arts
  • Landlord: Olmstead Properties
  • Tenant's Representative: Kenneth Salzman (Lee & Associates NYC)

This lease involved multiple key parties. The tenant, New York School of the Arts, entered into the agreement with landlord Olmstead Properties, with negotiations facilitated by tenant's representative Kenneth Salzman from Lee & Associates NYC.

Players

Steven Marvin

Olmstead Properties

Broker

9 deals

Broker
Olmstead Properties
Olmstead PropertiesLandlord

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

255854.84%

Cash-on-Cash

-73124.10%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93