AS Beauty Signs Modified Gross Lease For Office Space At 111 West 33rd Street, Upper East Side
111 West 33rd Street
$49
$49/SF
Building Size
30,486 SF
Asset Type
Office
Closing
Feb 12, 2024
AI
The office space located at 111 West 33rd Street in the Upper East Side has been leased. The property, with a size of 30,486 square feet, was leased by AS Beauty. The lease was a Modified Gross Lease and the asking rent was $49 per square foot.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
The landlord of the property is Empire State Realty Trust (ESRT), while the sublandlord is Diligent. The landlord's representatives in the deal were Michael Baraldi and Owen Koorbusch from Cushman & Wakefield. Representing AS Beauty were Wayne Siegel, Daniel Lolai, Eric Siegel, and Raymond Balassiano from LSL Advisors.
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
323734.69%
Cash-on-Cash
-92524.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93