Mitsubishi International Corporation Signs Lease With Durst Organization For 68000 Square Feet In NYC
151 W 42nd St, New York, NY, 10036
Building Size
68,000 SF
Asset Type
Office
Closing
Sep 1, 2021
AI
The property involved in this lease transaction is located at 151 W 42nd St, New York, NY, 10036. The leased space has a total area of 68,000 square feet within the New York market.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not specified
- Address: 151 W 42nd St, New York, NY, 10036
- Market: New York
- Square Feet: 68,000
- Tenant: Mitsubishi International Corporation
- Landlord: Durst Organization
- Tenant's Representative: E.N. Cutler - Newmark
The key parties involved in this transaction include Mitsubishi International Corporation as the tenant which indicates their operational interests in the area. Durst Organization serves as the landlord, responsible for the property management and leasing, while E.N. Cutler represents the tenant, facilitating the lease negotiations and terms of occupancy.
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