Updated Dec 4, 2024
TikTok Leases 232,000 Square Feet At 4 Times Square From Durst Organization With CBRE Representation
4 Times Square, New York, NY, 10036
Building Size
232,000 SF
Asset Type
Commercial
Closing
Nov 19, 2023
About this deal
AI
The property involved in this transaction is located at 4 Times Square, New York, NY, 10036. This lease encompasses a total of 232,000 square feet and is situated in the New York market.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not specified
- Address: 4 Times Square, New York, NY, 10036
- Market: New York
- Square Feet: 232,000
- Tenant: TikTok
- Landlord: Durst Organization
- Tenant's Representatives: Alice Fair (CBRE), Jeffrey Fischer (CBRE)
This lease transaction involved notable individuals from the representation side, specifically Alice Fair and Jeffrey Fischer, both associated with CBRE, who acted on behalf of the tenant TikTok in this deal with the Durst Organization, the landlord of the property.
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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