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135 W 50th St, New York, NY...

UBS Realty Investors Leases 62000 Square Feet At 135 W 50th St New York With Tenant Representation By Daniel Horowitz
LEASEDOffice

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

Daniel Horowitz

Savills

Broker

18 deals

Broker
UBS Realty Investors
UBS Realty InvestorsLandlord

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