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4 Times Square, New York, N...

TikTok Leases 232,000 Square Feet At 4 Times Square From Durst Organization With CBRE Representation
LEASEDCommercial

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

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.

Players

Rocco Romeo

Durst Organization

Broker

12 deals

Broker
Durst Organization
Durst OrganizationBrokerage
Durst Organization
Durst OrganizationLandlord

New York Commercial Market Snapshot

Boundary boundary · Commercial · 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