Amalgamated Lithographers Union Leases 13,000 SF Office At 113 University Place To Resident Company Club
113 University Place
$55
$55/SF
Building Size
13,000 SF
Asset Type
Office
Closing
Mar 31, 2025
AI
113 University Place, located in the Greenwich Village market, is an office space that has been leased for 13,000 square feet. The asking rent for this property was set at $55 per square foot, and it falls under a Modified Gross Lease type.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $715,000
- Address: 113 University Place
- Landlord: Amalgamated Lithographers Union Local 1 - Patrick LoPresti
- Tenant: Resident Company Club
- Landlord's Representative: Avery Reavill, Christopher (Chris) Okada & Thomas Capuano - Okada & Company
- Tenant's Representative: Kirill Azovtsev - Savills
- Lease Date: 4/1/2025
The deal involved key brokers from Okada & Company, Avery Reavill, Thomas Capuano, and Christopher Okada, who represented the landlord, while Kirill Azovtsev from Savills represented the tenant. The transaction exemplifies collaboration between parties to secure a lease in a prime location.
Players
New York Office Market Snapshot
Boundary boundary · Office · Lease transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
288418.18%
Cash-on-Cash
-82430.80%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93