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206 W 34th St, New York, NY...

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LEASEDOffice

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206 W 34th St, New York, NY, 10119

Building Size

27,000 SF

Asset Type

Office

Closing

Oct 11, 2016

AI

The property asset involved in this transaction is located at 206 W 34th St, New York, NY, 10119. It features a lease of 27,000 square feet on the 10th floor within Vornado’s 57-story, 2.6 million square foot One Penn Plaza. The market for this property is New York, and it is owned by Vornado, which is managing this transaction.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not disclosed
  • Landlord: Vornado
  • Landlord's Representative: Glen Weiss-Vornado Realty Trust
  • Tenant: Fuse Media
  • Tenant's Representative: John Ryan-Avison Young
  • Square Feet: 27,000

This transaction involves key players in the real estate market, including Fuse Media, which is relocating from Vornado's 11 Penn due to AMC Networks renewing and expanding its lease, which occupied approximately half of Fuse's office space. Glen Weiss led the Vornado team representing the landlord, while John Ryan from Avison Young represented Fuse Media in the leasing process.

Players

Glen Weiss

Vornado Realty Trust

Broker

7 deals

Broker
Savills
SavillsBrokerage
Vornado Realty Trust
Vornado Realty TrustLandlord

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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93