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151 West 42nd Street, Manha...

Updated Dec 4, 2024

Durst Organization Leases 68,000 SF Office Space To Mitsubishi International At 151 West 42nd Street
LEASEDOffice

Durst Organization Leases 68,000 SF Office Space To Mitsubishi International At 151 West 42nd Street

151 West 42nd Street, Manhattan, New York, NY, USA

Building Size

68,000 SF

Asset Type

Office

Closing

Aug 31, 2021

About this deal

AI

The office space located at 151 West 42nd Street in Midtown Manhattan has been leased in a closed transaction. The landlord, Durst Organization, represented by Jonathan Durst, has entered into a lease agreement with the tenant, Mitsubishi International Corporation. The lease term is for 20 years and the property offers 68,000 square feet of space. The asking rent for the office is $105 per square foot.

Summary of transaction details:

Moshe Sukenik, Noel Flagg, and E.N. Cutler from Newmark represented Mitsubishi International Corporation in the lease negotiation. On the landlord's side, the representatives were Tom Bow, Rocco Romeo, and Tanya Grimaldo. This transaction paves the way for Mitsubishi International Corporation to establish its presence in the office space at 151 West 42nd Street, Midtown Manhattan.

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Players

Moshe Sukenik

Newmark

Broker

11 deals

Broker
Durst Organization
Durst OrganizationBrokerage

Jonathan Durst

Durst Organization

Landlord

4 deals

Landlord
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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

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