Michiko Studios Leases 8,500 SF Office Space At 15 W. 39th St. In Bryant Park
15 West 39th Street
$35
$35/SF
Building Size
5,200 SF
Asset Type
Office
Closing
Sep 26, 2022
AI
Michiko Studios has secured a lease for 8,500 square feet of office space at 15 W. 39th St. in Bryant Park, Manhattan. The landlord, Northern Star Realty, facilitated the transaction, with the tenant's representative, Michael Moorin of RCK Realty, negotiating on behalf of Michiko Studios. Chris Okada and Thomas Capuano of Okada & Co represented the landlord.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Lease
- Asking Rent: $35/ft.
- Square Footage: 8,500
- Address: 15 W. 39th St.
- Market: Bryant Park
Chris Okada and Thomas Capuano of Okada & Co played a significant role in the leasing process, helping to fill vacancies and achieve 100% occupancy in Midtown, Manhattan. Their efforts contribute to the revival of New York City's office market, and their success stories may inspire others to invest in the city. With their commitment and hard work, Okada & Co continues to bet on the resurgence of the office sector in NYC.
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
453228.57%
Cash-on-Cash
-129534.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93