IMGN Media Leases Office Space At 142 West 36th Street In Midtown South
142 W 36th St, New York, NY 10018, USA
Building Size
80,000 SF
Asset Type
Office
Closing
Feb 4, 2020
AI
A closed property transaction took place at 142 West 36th Street in Midtown South. The asset involved was an office space measuring 8,000 square feet. The tenant, IMGN Media, signed a lease agreement with the landlord, Alduwaliya Asset Management, represented by Joel Kubie, Michael Hymowitz, and Daniel Lolai of lsladvisors. The asking price for the transaction was $62 per square foot.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $62 per square foot
- Tenant: IMGN Media
- Landlord: Alduwaliya Asset Management @Tamim
- BROKERS: Joel Kubie, Michael Hymowitz & Daniel Lolai @lsladvisors
The deal was facilitated by brokers Joel Kubie, Michael Hymowitz, and Daniel Lolai. They represented the landlord, Alduwaliya Asset Management, in the lease agreement with IMGN Media. The transaction showcases the active commercial real estate market in Midtown South, providing opportunities for tenants and landlords alike.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93