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15 West 39th Street

Guy Conti Leases 6,200 SF Office Space At 15 West 39th Street In New York City
LEASEDOffice

Guy Conti Leases 6,200 SF Office Space At 15 West 39th Street In New York City

15 West 39th Street

$35

$35/SF

Building Size

6,200 SF

Asset Type

Office

Closing

Dec 8, 2022

AI

An office space located at 15 West 39th Street in New York City has been leased. The lease transaction took place on 12/08/2022.

Summary of transaction details:

The office space was leased by Guy Conti, with Christopher Okada representing Okada & Company, and Thomas Capuano and Cole Chartash representing Cushman & Wakefield in the deal.

It is worth noting that despite concerns about the impact of the pandemic on the real estate market, over 300,000 square feet of office space has been leased in Midtown Manhattan. This deal in particular showcases the resilience of the New York City market.

Betting on the future of NYC, the involved parties closed this office lease transaction, proving that every deal counts and defying predictions of a housing crash or a decline in the office sector. Only time will determine the accuracy of these predictions, but for now, NYC continues to thrive.

Players

Christopher Okada

Okada & Company

Broker

$352.8M

vol

85 deals

Broker
NR
Northern Star RealtyLandlord

Guy Conti

Tenant

2 deals

Tenant

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

453228.57%

Cash-on-Cash

-129534.12%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93