Infinite Global Signs Lease For Office Space In Midtown Manhattan At 21 West 38th Street
21 East 38th Street, New York City, New York 10016, United States
Building Size
4,465 SF
Asset Type
Office
Closing
Jan 31, 2022
AI
An office space located at 21 West 38th Street in Midtown has been leased. The property, totaling 4,465 square feet, was leased by Infinite Global. The lease transaction was facilitated by Matthew DeRose and William Janetschek of Nomad Group, representing Infinite Global. Brause Realty acted as the landlord in this deal, with Avison Young serving as their representative. The asking rent for the space was $50 per square foot.
Summary of Transaction Details:
- Property Type: Office
- Transaction Amount: Lease
- Date: 02/01/2022
- Address: 21 West 38th Street
- Market: Midtown
- Tenant: Infinite Global
- Tenant's Representative: Matthew DeRose & William Janetschek - Nomad Group
- Landlord: Brause Realty
- Landlord's Representative: Avison Young
- Asking Rent: $50/ft.
- Square Footage: 4,465
The lease of this office space was successfully negotiated by Matthew DeRose and William Janetschek of Nomad Group, who represented the tenant, Infinite Global. Brause Realty acted as the landlord in this transaction, with Avison Young providing their representation. The lease was finalized on 02/01/2022 with an asking rent of $50 per square foot for the 4,465 square feet of office space.
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