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No Tenant Specified

Outsite Co-Living

124 E 37th St, New York, NY 10016

Listing Price: $5,493,333

Cap Rate
4.50%
Tenant Name
Net-Leased Co-Living
Years Remaining On Lease
9.2
Guarantor
Corporate Guarantee
Rentable SF
4,900
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$48.98

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for 124 E 37th Street, Outsite Co-living, located in New York City’s Murray Hill Historic District Extension. The building has never been subject to rent regulation. The property is 4,900 square feet situated on a 19 ft x 49.2 ft lot. Outsite Co-living is subject to a new 10-year absolute triple-net (NNN) lease with around 10 years remaining on the initial term. The current rent is $240,000 annually and increases to $247,200 in November. The lease calls for 3%annual rental increases throughout the lease term.

Investment Highlights

  • Rare Manhattan Absolute Triple-Net (NNN) 10-Year Lease
  • Strong Inflation Hedge | 3% Annual Rental Increases
  • Interior & Exterior Recently Renovated in 2017 and 2020
  • Corporate Guarantee From Outsite Co-living
  • Air Rights Included

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

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

    Manhattan

  • Russell Wachtler

    Licensed Real Estate Salesperson

    (212) 430-5132

    Email Russell

    License(s): NY: 40WA0949376

    Manhattan

  • John J. Stewart

    Licensed Real Estate Broker

    (212) 430-5152

    Email John

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

    Manhattan

Financing By

No Tenant Specified

Outsite Co-Living

Listing Price: $5,493,333

Cap Rate
4.50%
Tenant Name
Net-Leased Co-Living
Years Remaining On Lease
9.2
Guarantor
Corporate Guarantee
Rentable SF
4,900
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$48.98

Investment Highlights

  • Rare Manhattan Absolute Triple-Net (NNN) 10-Year Lease
  • Strong Inflation Hedge | 3% Annual Rental Increases
  • Interior & Exterior Recently Renovated in 2017 and 2020
  • Corporate Guarantee From Outsite Co-living
  • Air Rights Included

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for 124 E 37th Street, Outsite Co-living, located in New York City’s Murray Hill Historic District Extension. The building has never been subject to rent regulation. The property is 4,900 square feet situated on a 19 ft x 49.2 ft lot. Outsite Co-living is subject to a new 10-year absolute triple-net (NNN) lease with around 10 years remaining on the initial term. The current rent is $240,000 annually and increases to $247,200 in November. The lease calls for 3%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

  • Russell Wachtler

    Licensed Real Estate Salesperson

    (212) 430-5132

    Email Russell

    License(s): NY: 40WA0949376

    Manhattan

  • John J. Stewart

    Licensed Real Estate Broker

    (212) 430-5152

    Email John

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

    Manhattan

Financing By

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