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119 W 24th St, New York, NY...

AlleyNYC Leases 12500 Square Feet At 119 W 24th St New York Through Marc Kritzer
LEASEDCondo

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

Grant Greenspan

Kaufman Organization

Broker

10 deals

Broker
Kaufman Organization
Kaufman OrganizationLandlord

New York Condo Market Snapshot

Boundary boundary · Condo · 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