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Multifamily

124 E 37th St

124 E 37th St, New York, NY 10016

Listing Price: $4,950,000

Cap Rate
5.00%
Number of Units
4
Price/Unit
$1,237,500
Price/Gross SF
$1,029.11
Gross SF
4,810

Investment Overview

The New York Multifamily team of Marcus and Millichap is pleased to exclusively offer for sale 124 East 37th Street, which is ideally located in the heart of the New York City's Murray Hill neighborhood. Located on East 37th Street between Lexington Avenue and Park Avenue, this absolute triple-net (NNN) property is comprised of approximately 4,900 square feet with 19’ of frontage. The original 10-year lease with Outsite Co-living has 9 years remaining on the term. The lease calls for 3% annual increases over the remainder of the lease term.

Investment Highlights

  • Opportunity: Rare Manhattan Absolute Triple-Net (NNN) Spanning 4,810 Square Feet.?
  • Established Tenant: Outsite is a Global Network of Co-Living Spaces. With 35 Locations Worldwide, Fast-Growing Membership, and a Corporate Guarantee, Outsite is the Ideal Tenant for an Absolute NNN
  • High End Finishes: Interior and Exterior Recently Renovated in 2017 and 2020. Potential Conversion: Owner and tenant have a one-time lease breakup option with 6 months notice in 4 years.

Exclusively Listed By

  • Joe Koicim

    Licensed Associate Real Estate Broker

    (212) 430-5147

    Email Joe

    License(s): NY: 10311201039, NY: 10301208718

    Manhattan

  • Logan Markley

    Licensed Real Estate Salesperson

    (212) 430-5194

    Email Logan

    License(s): NY: 10401268674

    Manhattan

Multifamily

124 E 37th St

Listing Price: $4,950,000

Cap Rate
5.00%
Number of Units
4
Price/Unit
$1,237,500
Price/Gross SF
$1,029.11
Gross SF
4,810

Investment Highlights

  • Opportunity: Rare Manhattan Absolute Triple-Net (NNN) Spanning 4,810 Square Feet.?
  • Established Tenant: Outsite is a Global Network of Co-Living Spaces. With 35 Locations Worldwide, Fast-Growing Membership, and a Corporate Guarantee, Outsite is the Ideal Tenant for an Absolute NNN
  • High End Finishes: Interior and Exterior Recently Renovated in 2017 and 2020. Potential Conversion: Owner and tenant have a one-time lease breakup option with 6 months notice in 4 years.

Investment Overview

The New York Multifamily team of Marcus and Millichap is pleased to exclusively offer for sale 124 East 37th Street, which is ideally located in the heart of the New York City's Murray Hill neighborhood. Located on East 37th Street between Lexington Avenue and Park Avenue, this absolute triple-net (NNN) property is comprised of approximately 4,900 square feet with 19’ of frontage. The original 10-year lease with Outsite Co-living has 9 years remaining on the term. The lease calls for 3% annual increases over the remainder of the lease term.

Exclusively Listed By

  • Joe Koicim

    Licensed Associate Real Estate Broker

    (212) 430-5147

    Email Joe

    License(s): NY: 10311201039, NY: 10301208718

    Manhattan

  • Logan Markley

    Licensed Real Estate Salesperson

    (212) 430-5194

    Email Logan

    License(s): NY: 10401268674

    Manhattan

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