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160 Varick Street

Red Antler Leases 10,211 Square Feet Office Space At 160 Varick Street From Hines
LEASEDOffice

Red Antler Leases 10,211 Square Feet Office Space At 160 Varick Street From Hines

160 Varick Street

Building Size

10,211 SF

Asset Type

Office

Closing

Dec 18, 2024

AI

The property asset involved is an office space located at 160 Varick Street in Hudson Square, encompassing a total area of 10,211 square feet. This space is situated in a market where office rents average $85.81 per square foot.

Summary of transaction details:

Red Antler has signed the lease indicating a trend of businesses relocating to Manhattan, reflecting an interest in the innovative atmosphere of Hudson Square. The brokerage teams from CBRE and JLL facilitated the negotiations, representing both the landlord and the tenant respectively.

Players

Paul Amrich

CBRE

Broker

37 deals

Broker
Joseph Sipala
Verified Badge

Joseph Sipala

JLL

Broker

8 deals

Broker

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