JLA Home Leases Office Space At 20 West 33rd Street To Vanderbilt Home For $48/ft
20 West 33rd Street
$48
$48/SF
Building Size
14,000 SF
Asset Type
Office
Closing
Jan 17, 2025
About this deal
AI
The property involved in this transaction is an office space located at 20 West 33rd Street in the Midtown South market. The total square footage of the lease is 14,000, with an asking rent of $48 per square foot. The lease type agreed upon is a Modified Gross Lease.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $48/ft
- Square Footage: 14,000
- Address: 20 West 33rd Street
- Market: Midtown South
- Landlord: JLA Home
- Tenant: Vanderbilt Home
- Landlord's Representative: Jeffrey Rosenblatt - Lincoln Property Company
- Tenant's Representatives: Raymond Balassiano, Daniel Lolai & Wayne Siegel - LSL Advisors
This transaction involved key representatives from both the landlord and tenant. The landlord, JLA Home, was represented by Jeffrey Rosenblatt of Lincoln Property Company. On the tenant side, Vanderbilt Home was represented by Raymond Balassiano, Daniel Lolai, and Wayne Siegel from LSL Advisors.
On the Map
$48
$48/SF
Office
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Players
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
330479.17%
Cash-on-Cash
-94451.96%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93