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Outsite Co.

124 E 37th St, New York, NY 10016

Listing Price: $5,266,989

Cap Rate
4.75%
Tenant Name
Net-Leased Co-Living
Years Remaining On Lease
4.1
Guarantor
Corporate Guarantee
Rentable SF
4,900
Lease Type
Double Net
Rent Per Square Feet
$51.06

Investment Overview

Marcus & Millichap is pleased to present the market positioning and pricing analysis for this Outsite Co. Flagship location located in New York City’s Murray Hill neighborhood at 124 East 37th Street. The property is 4,900 square feet situated on an estimated 0.02 acre parcel of land. Outsite Coliving is subject to a five-year double-net lease with five years remaining on the initial term where the landlord is only responsible for the property taxes & insurance. The current rent is $294,000 annually with a NOI of$245,750 after expenses. The lease calls for two percent annual rental increases throughout the lease term.

Investment Highlights

  • Rare Manhattan Double-Net Five-Year Lease, Two Percent Annual Increases
  • Tenant Responsible for All Maintenance, Utilities, & Upkeep
  • Five-Story Town House Configured into Three Duplex Apartments

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

  • John J. Stewart

    Licensed Real Estate Broker

    (212) 430-5152

    Email John

    License(s): NY: 10311203263, NY: 10301205822

    Manhattan

  • Russell Wachtler

    Licensed Real Estate Salesperson

    (212) 430-5132

    Email Russell

    License(s): NY: 40WA0949376

    Manhattan

Listing Price: $5,266,989

Cap Rate
4.75%
Tenant Name
Net-Leased Co-Living
Years Remaining On Lease
4.1
Guarantor
Corporate Guarantee
Rentable SF
4,900
Lease Type
Double Net
Rent Per Square Feet
$51.06

Investment Highlights

  • Rare Manhattan Double-Net Five-Year Lease, Two Percent Annual Increases
  • Tenant Responsible for All Maintenance, Utilities, & Upkeep
  • Five-Story Town House Configured into Three Duplex Apartments

Investment Overview

Marcus & Millichap is pleased to present the market positioning and pricing analysis for this Outsite Co. Flagship location located in New York City’s Murray Hill neighborhood at 124 East 37th Street. The property is 4,900 square feet situated on an estimated 0.02 acre parcel of land. Outsite Coliving is subject to a five-year double-net lease with five years remaining on the initial term where the landlord is only responsible for the property taxes & insurance. The current rent is $294,000 annually with a NOI of$245,750 after expenses. The lease calls for two percent annual rental increases throughout the lease term.

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

  • John J. Stewart

    Licensed Real Estate Broker

    (212) 430-5152

    Email John

    License(s): NY: 10311203263, NY: 10301205822

    Manhattan

  • Russell Wachtler

    Licensed Real Estate Salesperson

    (212) 430-5132

    Email Russell

    License(s): NY: 40WA0949376

    Manhattan

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