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78 Maiden Ln, New York, NY,...

Quad Preparatory School Leases 50,000 Sq Ft School Space At 78 Maiden Ln, New York
LEASEDSchool

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

Paul Amrich

CBRE

Broker

37 deals

Broker
Normandy Real Estate Partners
Normandy Real Estate PartnersLandlord

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