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385 South End Ave, New York...

Kumon Math And Reading Leases 1600 Square Feet At 385 South End Ave New York
LEASEDSchool

Kumon Math And Reading Leases 1600 Square Feet At 385 South End Ave New York

385 South End Ave, New York, NY, 10...

Building Size

1,600 SF

Asset Type

School

Closing

Nov 29, 2023

AI

The lease transaction involved a space located at 385 South End Ave, New York, NY, encompassing 1,600 square feet. The property is situated in the New York market, and Kumon Math and Reading has secured the ground floor space through this lease arrangement.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not disclosed
  • Address: 385 South End Ave, New York, NY
  • Tenant: Kumon Math and Reading
  • Landlord: LeFrak Organization
  • Square Feet: 1,600
  • Tenant's Representatives: Matthew Gorman (CBRE), Christopher Bruggers (New Street Realty Advisors)
  • Landlord's Representative: RKF

New Street Realty Advisors facilitated the lease agreement between Kumon Math and Reading and the LeFrak Organization. Kumon plans to open its new center in February 2019, following the arrangement made by the representatives Matthew Gorman and Christopher Bruggers.

Players

Matthew Gorman

CBRE

Broker

$179.4M

vol

15 deals

Broker
LeFrak Organization
LeFrak OrganizationLandlord

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