HMG Plus Leases Office Space At 12 West 37th Street In Midtown Manhattan With LSL Advisors And Daniel Breiman's Representation
12 West 37th Street, New York City, New York 10018, United States
Building Size
5,020 SF
Asset Type
Office
Closing
Dec 23, 2021
AI
The recently closed lease transaction involves an office space located at 12 West 37th Street in Midtown. The property, measuring approximately 5,020 square feet, was leased by HMG Plus from Olmstead Properties. The lease terms span a period of 10 years with an asking rent of $44 per square foot.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not specified
- Address: 12 West 37th Street
- Market: Midtown
- Landlord: Olmstead Properties
- Tenant: HMG Plus
- Broker: Ray Balas - LSL Advisors & Daniel Breiman
- Asking Rent: $44/ft.
- Lease Terms: 10 Years
The lease transaction was facilitated by Ray Balas of LSL Advisors and Daniel Breiman. They represented the interests of the tenant, HMG Plus, in the deal.
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