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
About this deal
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
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