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132 W 36th St, New York, NY...

Weisner Products Leases 8000 Sq Ft Office Space On 36th St, New York
LEASEDOffice

Weisner Products Leases 8000 Sq Ft Office Space On 36th St, New York

132 W 36th St, New York, NY, 10018

Building Size

8,000 SF

Asset Type

Office

Closing

Jul 14, 2015

AI

An office property located at 132 West 36th St, New York, NY, 10018, with a total square footage of 8000 square feet, was involved in a lease transaction. The deal was signed between the tenant, Weisner Products, and the landlord, The Kaufman Organization. The lease agreement spanned six years with an asking rent in the high $40s per square foot.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not Applicable
  • Tenant: Weisner Products
  • Landlord: The Kaufman Organization
  • Market: New York
  • Tenant's Rep: Michael Heaner
  • Landlord's Rep: Steven Kaufman

Michael Heaner represented Weisner Products in the lease transaction, while Steven Kaufman, along with Barbara Raskob and Yvonne Chang from Kaufman Organization, represented the landlord. Weisner Products, an apparel design, marketing, and distribution firm, was the lessee in the agreement, while The Kaufman Organization acted as the lessor. The property in question provided 8000 square feet of space for the tenant's operations in the vibrant market of New York.

Players

Michael Heaner

Kaufman Organization

Broker

8 deals

Broker
Steven Kaufman

Steven Kaufman

Kaufman Organization

Landlord

$78M

vol

6 deals

Landlord

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