Poster House Leases 15000 Sq Ft Office Space At 119 W 23rd St, NY
119 W 23rd St, New York, NY, 10011
Building Size
15,000 SF
Asset Type
Office
Closing
Aug 23, 2017
About this deal
AI
The office property located at 119 W 23rd St, New York, NY, 10011, in the bustling market of New York, encompasses 15,000 square feet. The lease was finalized on August 23, 2017, with Poster House as the tenant and Stellar Management as the landlord. Trever Gallina from Marcus & Millichap represented the landlord in this transaction.
Summary of transation details:
- Property Type: Office
- Transaction Amount: Not Applicable
- Market: New York
- Tenant: Poster House
- Landlord: Stellar Management
The involvement of Trever Gallina from Marcus & Millichap as the landlord's representative added a professional touch to the leasing deal for the office space at 119 W 23rd St. The collaboration between Poster House and Stellar Management, facilitated by Gallina, contributed to the successful conclusion of this agreement.
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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