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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
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