Gap Inc. Leases 80900 SF At 111 W 33rd St From Empire State Realty Trust In New York
111 W 33rd St, New York, NY, 10001
$65
$65/SF
Building Size
80,900 SF
Asset Type
Office
Closing
May 25, 2017
AI
111 W 33rd St is located in New York, NY, 10001, and features an area of 80,900 square feet. The rent per square foot is $65. The property is involved in a lease transaction within the New York market.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: $5,800,000
- Address: 111 W 33rd St, New York, NY, 10001
- Market: New York
- Tenant: Gap Inc.
- Landlord: Empire State Realty Trust
- Tenant's Representatives: Eric Deutsch-CBRE, Jared Freede-CBRE
Eric Deutsch and Jared Freede from CBRE represented Gap Inc. in this leasing transaction, while Empire State Realty Trust is the landlord of the property.
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
244046.15%
Cash-on-Cash
-69749.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93