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
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