UBS Realty Investors Leases 62000 Square Feet At 135 W 50th St New York With Tenant Representation By Daniel Horowitz
135 W 50th St, New York, NY, 10020
Building Size
62,000 SF
Asset Type
Office
Closing
May 20, 2022
AI
The property involved in this transaction is a recently renovated office tower located at 135 W 50th St, New York, NY, 10020, situated in the New York market. The building features a total of 925,000 square feet, with a new lease agreement covering 62,000 square feet on a full floor.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not disclosed
- Address: 135 W 50th St, New York, NY, 10020
- Market: New York
- Square Feet: 62,000
- Tenant: Undisclosed
- Landlord: UBS Realty Investors
- Tenant's Representative: Daniel Horowitz (Savills)
- Landlord's Representatives: Matthew Coudert (George Comfort & Sons), Alexander N. Bermingham (George Comfort & Sons)
This long-term lease was signed by a major consumer goods company, with George Comfort & Sons serving as the asset manager for the landlord, UBS Realty Investors. The deal was facilitated by Matthew Coudert, Andrew Conrad, and Alexander Bermingham from George Comfort, while Jeffrey Peck and Daniel Horowitz from Savills represented the tenant.
Players
New York Office Market Snapshot
Boundary boundary · Office · Lease transactions
Loading comparables…
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