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15 W 51st St New York, NY 1...

TimesSquare Capital Management Leases 14,116 SF Office Space At 75 Rockefeller Plaza
LEASEDOffice

TimesSquare Capital Management Leases 14,116 SF Office Space At 75 Rockefeller Plaza

15 W 51st St New York, NY 10104, USA

$105

$105/SF

Building Size

14,116 SF

Asset Type

Office

Closing

Aug 11, 2023

AI

Financial services firm TimesSquare Capital Management has secured a new office lease for a space spanning 14,116 square feet on the 30th floor of 75 Rockefeller Plaza in Manhattan. The lease term is set for seven years, and the asking rent for the property is $105 per square foot.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: N/A
  • Address: 15 West 51st Street, Manhattan
  • Market: Manhattan

The landlord, RXR, represented by Alexandra Budd and Daniel Birney, has leased the office space to TimesSquare Capital Management. The tenant was represented by Silvio Petriello from CBRE. Bruce Mosler from Cushman & Wakefield acted as the landlord's representative in the deal. The lease agreement spans seven years and provides TimesSquare Capital Management with a prime location in Manhattan for their operations.

With this transaction, TimesSquare Capital Management has secured a well-located office space in Manhattan suitable for their financial services business. The lease agreement allows them to operate in a prestigious building at 75 Rockefeller Plaza for the next seven years.

Players

Silvio Petriello

CBRE

Broker

13 deals

Broker
RXR Realty
RXR RealtyLender
RXR Realty
RXR RealtyLandlord

Daniel Birney

RXR Realty

Landlord

5 deals

Landlord

New York Office Market Snapshot

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

151076.19%

Cash-on-Cash

-43178.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93