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166 Crosby Street

Automattic Inc Leases Office Space At 166 Crosby Street In NoHo For $100/ft
LEASEDOffice

Automattic Inc Leases Office Space At 166 Crosby Street In NoHo For $100/ft

166 Crosby Street

$100

$100/SF

Building Size

11,511 SF

Asset Type

Office

Closing

Jul 17, 2024

AI

The property asset involved in this transaction is located at 166 Crosby Street in the NoHo market. It is an office type asset, consisting of 11,511 square feet. The asking rent for the space is set at $100 per square foot, and the lease type is a Modified Gross Lease.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $1,151,100
  • Address: 166 Crosby Street
  • Market: NoHo
  • Landlord: Bradley Fishel - Renaissance Properties
  • Tenant: Automattic Inc
  • Brokers: JD Cohen & Owen Reda - Newmark

Key individuals involved in this lease transaction include Bradley Fishel, who represents the landlord Renaissance Properties, and Automattic Inc as the tenant. The brokers facilitating the deal are JD Cohen and Owen Reda, both from Newmark.

Players

JD Cohen

Newmark

Broker

$14.8M

vol

13 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

158630.00%

Cash-on-Cash

-45336.94%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93