No Tenant Specified
Outsite Co-Living
124 E 37th St, New York, NY 10016
Listing Price: $5,493,333
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.
Listing Price: $5,493,333
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.
