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
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