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21 East 38th Street, New Yo...

Updated Oct 28, 2024

Infinite Global Signs Lease For Office Space In Midtown Manhattan At 21 West 38th Street
LEASEDOffice

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

About this deal

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.

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Players

Matthew DeRose
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Matthew DeRose

Nomad Group

Broker

36 deals

Broker

William Janetschek

Nomad Group

Broker

$3.8M

vol

32 deals

Broker
Brause Realty
Brause RealtyLandlord
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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

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