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15 West 39th Street

LEASEDOffice

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

Christopher Okada

Okada & Company

Broker

$352.8M

vol

87 deals

Broker
NR
Northern Star RealtyLandlord

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