Definition 6 Leases 13750 Square Feet At 218 W 40th St From Savitt Partners
218 W 40th St, New York, NY, 10018
$55
$55/SF
Building Size
13,750 SF
Asset Type
Office
Closing
Oct 30, 2017
AI
The property involved in this lease transaction is located at 218 W 40th St, New York, NY 10018, in the New York market. The tenant, Definition 6, has secured a leasing arrangement for a space measuring 13,750 square feet at a rental rate of $55 per square foot.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not specified
- Address: 218 W 40th St, New York, NY, 10018
- Market: New York
- Tenant: Definition 6
- Landlord: Savitt Partners
- Tenant's Representative: Ken Ruderman & Jarod Stern - Savills Studley
Key individuals in this transaction include the tenant, Definition 6, and the landlord, Savitt Partners. The deal was represented on the tenant's side by brokers Ken Ruderman and Jarod Stern from Savills Studley, facilitating the leasing process.
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
288418.18%
Cash-on-Cash
-82430.80%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93