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463 7th Ave, New York, NY, ...

Hersha Hospitality Trust Leases 12642 SF Space With William Montana In New York
LEASED

Hersha Hospitality Trust Leases 12642 SF Space With William Montana In New York

463 7th Ave, New York, NY, 10018

Building Size

12,642 SF

Asset Type

Closing

Nov 22, 2023

AI

The property located at 463 7th Ave, New York, NY, 10018, boasts a total square footage of 12,642. The lease transaction involved Hersha Hospitality Trust as the tenant and the Arsenal Company as the landlord.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not Applicable
  • Tenant's Representative: William Montana()

The tenant's representative, William Montana(), played a crucial role in facilitating the lease agreement between Hersha Hospitality Trust and the Arsenal Company, ensuring a successful transaction in the bustling market of New York.

Players

William Montana

Broker

$43.3M

vol

2 deals

Broker
AC
Arsenal CompanyLandlord

New York CRE Market Snapshot

Boundary boundary · CRE · 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