Greater New York Mutual Insurance Leases 52,116 SF At Empire State Building
20 West 34th Street
Building Size
52,116 SF
Asset Type
Office
Closing
Jan 25, 2024
About this deal
AI
The property at 20 West 34th Street in Midtown Manhattan has been leased by Greater New York Mutual Insurance for a full floor spanning 52,116 square feet at the Empire State Building. The iconic tower's asking rents range from $69 to $87 per square foot.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Landlord: Empire State Realty Trust - Anthony E. Malkin
- Tenant: Greater New York Mutual Insurance
- Date: 01/25/2024
- Address: 20 West 34th Street
- Market: Midtown Manhattan
- Asset Type: Office
- Square Footage: 52,116 SF
Greater New York Mutual Insurance, led by the tenant, has signed a 17-year lease at the Empire State Building. Anthony E. Malkin of Empire State Realty Trust represented the landlord in this transaction.
On the Map
Office
View full map
New York Office Market Snapshot
Boundary boundary · Office · Lease transactions
Loading comparables…
Deal FAQ
Browse New York office leases on Traded.
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