Capell Barnett Matalon & Schoenfeld Signs 15-Year Lease For 14 Penn Plaza Office Space
14 Penn Plaza, New York, NY 10122
$60
$60/SF
Building Size
15,000 SF
Asset Type
Office
Closing
Aug 10, 2023
AI
The law firm Capell Barnett Matalon & Schoenfeld has signed a 15-year lease for a 15,000-square-foot space at 14 Penn Plaza, located in the Midtown market. The property is owned by Circle Realty Group. The asking rent for the lease is $60 per square foot.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not specified
- Address: 14 Penn Plaza
- Market: Midtown
Richard Kramer from Newmark represented Capell Barnett Matalon & Schoenfeld as the broker in this transaction.
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
264383.33%
Cash-on-Cash
-75561.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93