Regal Jewelry Signs Modified Gross Lease In Midtown South Office Building
1 East 33rd Street
$48
$48/SF
Building Size
13,027 SF
Asset Type
Office
Closing
Nov 2, 2023
About this deal
AI
The office property located at 1 East 33rd Street in Midtown South, Manhattan has been leased. The asset spans 13,027 square feet and is owned by Koeppell Rosen. The tenant, Regal Jewelry, has entered into a lease agreement for the space.
Summary of transaction details
- Property Type: Office
- Asking Rent: $48 per square foot
- Lease Type: Modified Gross Lease
- Landlord: Koeppell Rosen
- Tenant: Regal Jewelry
- Landlord's Representative: Max Koepell - Koeppell Rosen
- Brokers: Daniel Lolai, Raymond Balassiano, and Wayne Siegel - LSL Advisors
The negotiation and facilitation of the lease were handled by Daniel Lolai, Raymond Balassiano, and Wayne Siegel, representing LSL Advisors. They worked on behalf of Regal Jewelry, while Max Koepell served as the landlord's representative for Koeppell Rosen.
Players
Market Office Market Snapshot
Boundary boundary · Office · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
330479.17%
Cash-on-Cash
-94451.96%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93