Gresham Investment Management Relocates To 19 Union Square West Office Space
19 Union Square West
Building Size
9,233 SF
Asset Type
Office
Closing
Jun 10, 2024
About this deal
AI
19 Union Square West, located in Union Square, Manhattan, is the site of a recent lease transaction. The office space comprises 9,233 square feet on the 11th floor, with an asking rent of $80.93 per square foot. The landlord, Walford Company, facilitated the deal, with representation from Ben Waller & James Caseley of ABS Partners Real Estate for the landlord, and Chris Joyner of Fischer & Company & Scott Vinett of JLL for the tenant.
Summary of transation details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 19 Union Square West
- Market: Union Square, Manhattan
- Landlord: Walford Company
- Landlord's Rep: Ben Waller & James Caseley - ABS Partners Real Estate
- Tenant's Rep: Chris Joyner - Fischer & Company & Scott Vinett - JLL
- Asking Rent: $80.93/ft
- SF: 9,233
Gresham Investment Management, a Nuveen Investments subsidiary, has secured the lease for the 9,233 square feet of office space at 19 Union Square West. The location, positioned in the vibrant and commuter-friendly area of Union Square, offers elevated office spaces. The negotiation for this lease was carried out amidst a Midtown South office market that, on average, was priced at $80.93 per square foot in the first quarter of 2024.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
198287.50%
Cash-on-Cash
-56671.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93