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205 West 28th Street

Joe & The Juice Leases 2,150 Square Feet Office In Midtown South At 205 West 28th Street
LEASEDOffice

Joe & The Juice Leases 2,150 Square Feet Office In Midtown South At 205 West 28th Street

205 West 28th Street

$200

$200/SF

Building Size

2,150 SF

Asset Type

Office

Closing

Dec 10, 2024

AI

The asset involved in this transaction is an office space located at 205 West 28th Street in Midtown South. The tenant, Joe & the Juice, has signed a lease for 2,150 square feet with an asking rent of $200 per square foot. The lease is set for a duration of 15 years.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $200/ft
  • Square Footage: 2,150
  • Address: 205 West 28th Street
  • Market: Midtown South
  • Landlord: Michael Kirchmann - GDS Development Management
  • Landlord: Rutger Arnhult - Corem Property Group
  • Tenant: Thomas Nørøxe - Joe & the Juice
  • Landlord's Representative: Michael Paster - Newmark
  • Tenant's Representative: Henry Rossignol - CBRE
  • Lease Term: 15-year lease

The transaction involves key individuals such as Thomas Nørøxe representing Joe & the Juice, and the landlords represented by Michael Paster from Newmark along with Rutger Arnhult from Corem Property Group. The significantly structured deal highlights the collaboration among the representatives and the parties involved in securing a long-term lease agreement.

Players

Henry Rossignol

CBRE

Broker

10 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

79315.00%

Cash-on-Cash

-22668.47%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93