ItyBell Productions Leases Multifamily Space At 39 West 56th Street From West Properties INC
39 West 56th Street
$70
$70/SF
Building Size
1,382 SF
Asset Type
MultiFamily
Closing
Nov 23, 2024
AI
The property involved in this transaction is located at 39 West 56th Street, situated in the Midtown Manhattan market. It is classified as a multifamily asset with a leasing arrangement totaling $70 per square foot for 1,382 square feet under a modified gross lease.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $70/ft
- Square Footage: 1,382
- Address: 39 West 56th Street
- Market: Midtown Manhattan
- Landlord: West Properties INC.
- Tenant: ItyBell Productions
- Broker: Alex Putzer - Bridge Advisory Group
The key individuals involved in this transaction include the landlord, West Properties INC., and tenant, ItyBell Productions. Representing the leasing deal is broker Alex Putzer from Bridge Advisory Group, who is known for a comprehensive approach to real estate and specializes in off-market assets in Manhattan and Brooklyn.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
226614.29%
Cash-on-Cash
-64767.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93