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151 West 42nd Street

Vivek Ganapathy Ramaswamy Of Roivant Sciences Signs 15-Year Lease At Midtown Condo For $140/sf
LEASEDCondo

Vivek Ganapathy Ramaswamy Of Roivant Sciences Signs 15-Year Lease At Midtown Condo For $140/sf

151 West 42nd Street

$140

$140/SF

Building Size

55,000 SF

Asset Type

Condo

Closing

Oct 1, 2024

AI

The transaction involves a condo situated at 151 West 42nd Street in Midtown Manhattan. The property features a total square footage of 55,000 and has an asking rent of $140 per square foot. The lease is structured as a 15-year agreement, allowing for long-term occupancy in this prime market location.

Summary of transaction details:

  • Property Type: Condo
  • Transaction Amount: $140/ft
  • Lease Term: 15-year lease
  • Size: 55,000 SF
  • Landlord: Steven Roth - Vornado
  • Tenant: Vivek Ganapathy Ramaswamy - Roivant Sciences
  • Brokers: Josh Friedman & Neil Goldmacher - Newmark

Roivant Sciences, led by former Republican presidential candidate Vivek Ganapathy Ramaswamy, is relocating into the newly leased duplex penthouse at Penn 1, which is part of a building that has undergone significant upgrades, backed by a $450 million investment from Vornado Realty Trust. The deal was facilitated by brokers Josh Friedman and Neil Goldmacher from Newmark, representing the interests of the landlord.

Players

Neil Goldmacher

Newmark

Broker

16 deals

Broker

New York Condo Market Snapshot

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

113307.14%

Cash-on-Cash

-32383.53%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93