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:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 102 W 40th St, New York, NY, 10018
- Market: New York
- Landlord's Reps: Michael Movshovich (Cushman & Wakefield), Neil V. King III (CBRE), Paul Amrich (CBRE)
- Tenant: Lucas Group
- Landlord: Princeton International Properties
- Square Feet: 7620
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
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