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112 W 34th St, New York, NY...

Naik Consulting Group Leases Office Space At 112 West 34th Street In Penn Plaza For $48/SF
LEASEDOffice

Naik Consulting Group Leases Office Space At 112 West 34th Street In Penn Plaza For $48/SF

112 W 34th St, New York, NY 10120, USA

Building Size

157,510 SF

Asset Type

Office

Closing

Mar 1, 2020

AI

Naik Consulting Group has signed a lease for office space at 112 West 34th Street in the Penn Plaza market. The property comprises 15,751 square feet and was leased from landlords Xerox and Empire State Realty Trust. The lease was facilitated by brokers Wayne Siegel, Eric Siegel, and Daniel Lolai of an undisclosed agency. The asking rent for the space was $48 per square foot.

Summary of transation details

  • Property Type: Office
  • Transaction Amount: N/A - Lease agreement
  • Address: 112 West 34th Street
  • Market: Penn Plaza
  • Tenant: Naik Consulting Group
  • Landlord: Xerox & Empire State Realty Trust
  • BROKERS: Wayne Siegel, Eric Siegel & Daniel Lolai
  • Asking Rent: $48
  • Square Footage: 15,751

Naik Consulting Group's lease agreement for office space at 112 West 34th Street was brokered by Wayne Siegel, Eric Siegel, and Daniel Lolai. This deal represents a successful collaboration between the tenant and landlords Xerox and Empire State Realty Trust. The office space, totaling 15,751 square feet, was secured at an asking rent of $48 per square foot.

Players

Daniel Lolai

LSL Advisors

Broker

$211.9M

vol

93 deals

Broker
Empire State Realty Trust
Empire State Realty TrustLandlord
NG
Naik Consulting GroupTenant

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