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
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