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111 W 33rd St, New York, NY...

Gap Inc. Leases 80900 SF At 111 W 33rd St From Empire State Realty Trust In New York
LEASEDOffice

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

Jared Freede

CBRE

Broker

14 deals

Broker
Empire State Realty Trust
Empire State Realty TrustLandlord

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