Quad Preparatory School Leases 50,000 Sq Ft School Space At 78 Maiden Ln, New York
78 Maiden Ln, New York, NY, 10038
Building Size
50,000 SF
Asset Type
School
Closing
Apr 5, 2019
AI
The property at 78 Maiden Ln, New York, NY, 10038, is a School encompassing 50,000 square feet located in the bustling market of New York. The landlord, Normandy Real Estate Partners, facilitated a lease transaction with The Quad Preparatory School. The deal was brokered by Marc Shapses from Savills and Paul Amrich from CBRE. Additionally, Neil V. King III and Robert (Rob) Wizenberg from CBRE represented the landlord in this transaction.
Summary of transaction details:
- Property Type: School
- Transaction Amount: Not specified
- Address: 78 Maiden Ln, New York, NY, 10038
- Market: New York
- Tenant: The Quad Preparatory School
- Landlord: Normandy Real Estate Partners
- Square Feet: 50,000
- Landlord's Rep: Neil V. King III(CBRE), Robert (Rob) Wizenberg(CBRE)
- Broker: Marc Shapses(Savills), Paul Amrich(CBRE)
In this transaction, the key individuals involved were Neil V. King III and Robert (Rob) Wizenberg representing CBRE as the landlord's representatives. The brokerage was spearheaded by Marc Shapses from Savills and Paul Amrich from CBRE. These individuals played pivotal roles in ensuring the successful leasing of the School property to The Quad Preparatory School.
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