Venable Leases Office Space At 151 W 42nd St, New York
151 W 42nd St, New York, NY, 10036
Building Size
157,800 SF
Asset Type
Office
Closing
Nov 22, 2023
AI
The office located at 151 W 42nd St, New York, NY, 10036, in the New York market, measuring 157,800 square feet, was part of a lease transaction. The tenant, Venable, secured this space from the landlord, Durst Organization. The deal was facilitated with the assistance of Moshe Sukenik from Newmark acting as the tenant's representative.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not Applicable
- Tenant: Venable
- Landlord: Durst Organization
- Square Feet: 157,800
- Tenant's Rep: Moshe Sukenik (Newmark)
The presence of Moshe Sukenik from Newmark as Venable's representative solidified the lease deal for the significant office space on 151 W 42nd St. This transaction highlights the collaborative efforts of all parties involved.
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