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102 W 40th St, New York, NY...

Lucas Group Leases 7620 Sq Ft Office Space In New York
LEASEDOffice

Lucas Group Leases 7620 Sq Ft Office Space In New York

102 W 40th St, New York, NY, 10018

Building Size

7,620 SF

Asset Type

Office

Closing

Dec 9, 2015

AI

The property at 102 W 40th St, New York, NY, 10018 is an office space consisting of 7620 square feet. The lease was executed on 12/09/2015 in the New York market. The landlord's representatives involved in the deal were Michael Movshovich from Cushman & Wakefield, Neil V. King III from CBRE, and Paul Amrich from CBRE. The tenant for this lease was Lucas Group, and the landlord was Princeton International Properties.

Summary of transaction details:

Meghan Allen from CBRE served as the sole broker in this transaction, representing either the tenant or the landlord. The presence of only one broker in this deal indicates a straightforward negotiation process. The involvement of multiple landlord's representatives suggests a collaborative effort from the landlord's side to secure the lease with Lucas Group for the office space at 102 W 40th St, New York, NY. This transaction highlights the efficient cooperation among the key individuals and companies involved in the commercial real estate lease.

Players

Paul Amrich

CBRE

Broker

37 deals

Broker
PP
Princeton International PropertiesLandlord
RT
Revocable TrustTenant

New York 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93