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

Venable Leases Office Space At 151 W 42nd St, New York
LEASEDOffice

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

Moshe Sukenik

Newmark

Broker

10 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