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
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