Updated Dec 4, 2024
NY CBT Leases Office Space At 5 East 16th Street In Union Square
5 E 16th St, New York, Ny 10003, Usa
Building Size
52,000 SF
Asset Type
Office
Closing
Feb 24, 2020
About this deal
AI
The office property located at 5 East 16th Street in Union Square has been involved in a closed transaction. The property spans across 5,200 square feet and was leased by NY CBT. The landlord for this transaction was Buchbinder & Warren. The tenant was represented by Eric Shifflett, Joel Kubie, and Daniel Lolai from LSL Advisors, while the landlord was represented by Barbara Craig from NKF. The asking rent for this office space was $68 per square foot.
Summary of Transaction Details
- Property Type: Office
- Tenant: NY CBT
- Landlord: Buchbinder & Warren
- Tenant’s Rep: Eric Shifflett, Joel Kubie & Daniel Lolai – LSL Advisors
- Landlord’s Rep: Barbara Craig – NKF
- Asking Rent: $68 per square foot
- Square Footage: 5,200
The deal was facilitated by the tenant’s representatives, Eric Shifflett, Joel Kubie, and Daniel Lolai from LSL Advisors, and the landlord’s representative, Barbara Craig from NKF.
Players
New York Office Market Snapshot
Boundary boundary · Office · 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