AlleyNYC Leases 12500 Square Feet At 119 W 24th St New York Through Marc Kritzer
119 W 24th St, New York, NY, 10011
Building Size
12,500 SF
Asset Type
Condo
Closing
Nov 15, 2016
AI
AlleyNYC signed a 12,500 SF lease for the second floor at the Kaufman Organization's 119 West 24th St in Midtown South. The lease enables AlleyNYC to cover more than 50k SF in the building.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not specified
- Address: 119 W 24th St, New York, NY, 10011
- Market: New York
- Tenant: AlleyNYC
- Landlord: The Kaufman Organization
- Tenant's Rep: Marc Kritzer (Kritzer Realty)
- Landlord's Rep: Grant Greenspan (Kaufman Organization)
- Square Feet: 12,500
Marc Kritzer from Kritzer Realty represented AlleyNYC in the leasing transaction, while Grant Greenspan from Kaufman Organization acted as the landlord's representative, facilitating the agreement in Midtown South.
Players
New York Condo Market Snapshot
Boundary boundary · Condo · Lease transactions
Loading comparables…
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