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218 W 18th St, New York, NY...

DriveShack Leases 13400 Square Feet From Columbia Property Trust At 218 W 18th St New York
LEASEDOffice

DriveShack Leases 13400 Square Feet From Columbia Property Trust At 218 W 18th St New York

218 W 18th St, New York, NY, 10011

Building Size

13,400 SF

Asset Type

Office

Closing

Mar 7, 2019

AI

The property asset involved in the transaction is located at 218 W 18th St, New York, NY, 10011. This lease encompasses a total area of 13,400 square feet within the New York market.

Summary of transaction details:

  • Property Type: LEASE
  • Transaction Amount: Not disclosed
  • Square Feet: 13,400
  • Address: 218 W 18th St, New York, NY, 10011
  • Tenant: DriveShack
  • Landlord: Columbia Property Trust
  • Tenant's Representative: Conor Denihan (CBRE)

The deal involved DriveShack as the tenant entering into a lease agreement with Columbia Property Trust as the landlord, facilitated by Conor Denihan from CBRE representing the tenant in this transaction.

Players

Paul Amrich

CBRE

Broker

37 deals

Broker
Columbia Property Trust
Columbia Property 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