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151 W 42nd St, New York, NY...

Mitsubishi International Corporation Signs Lease With Durst Organization For 68000 Square Feet In NYC
LEASEDOffice

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

E.N. Cutler

Newmark

Broker

3 deals

Broker
Durst Organization
Durst OrganizationBrokerage
Durst Organization
Durst OrganizationLandlord

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