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20 West 33rd Street

JLA Home Leases Office Space At 20 West 33rd Street To Vanderbilt Home For $48/ft
LEASEDOffice

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

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:

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.

Players

Daniel Lolai

LSL Advisors

Broker

$211.9M

vol

92 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

330479.17%

Cash-on-Cash

-94451.96%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93