WeWork Leases Office Space At 135 E 57th St, New York For $80/SF
135 E 57th St, New York, NY, 10022
$80
$80/SF
Building Size
27,000 SF
Asset Type
Office
Closing
Oct 27, 2021
AI
The office property located at 135 E 57th St, New York, NY, 10022, in the New York market, has been leased. The tenant, WeWork, will occupy a space of 27,000 square feet with a rent of $80 per square foot. The lease transaction was facilitated by Michael Schoenbrun from Meridian Capital Group, representing the tenant, and the landlord is Cohen Brothers Realty Corporation.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not applicable
- Tenant: WeWork
- Tenant's Representative: Michael Schoenbrun (Meridian Capital Group)
- Landlord: Cohen Brothers Realty Corporation
- Rent/SF: $80
- Square Feet: 27,000
- Address: 135 E 57th St, New York, NY, 10022
- Market: New York
The deal involved WeWork as the tenant and Cohen Brothers Realty Corporation as the landlord. Michael Schoenbrun from Meridian Capital Group played a crucial role as the tenant's representative in finalizing the lease agreement for the office space. This transaction highlights the collaborative efforts between these key individuals and companies in the New York real estate market.
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
198287.50%
Cash-on-Cash
-56671.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93