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135 E 57th St, New York, NY...

WeWork Leases Office Space At 135 E 57th St, New York For $80/SF
LEASEDOffice

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

Michael Schoenbrun

ClearWood Capital

Broker

$50.5M

vol

8 deals

Broker

Cohen Brothers

Cohen Brothers Realty

Landlord

15 deals

Landlord
WeWork
WeWorkTenant

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