Balance In Motion Physical Therapy Leases Office Space In Penn Plaza
224 W 35th St, New York City, New York 10001, United States
Building Size
3,000 SF
Asset Type
Office
Closing
Jun 9, 2022
AI
An office space located at 224 W. 35th St. in Penn Plaza has been leased. The tenant, Balance In Motion Physical Therapy, has signed a lease agreement with the landlord, Gatsby Enterprises. The lease was facilitated by brokers Chris Okada and Hiro Iwata from Okada & Company. The office space spans approximately 3,000 square feet and was leased at an asking rent of $35 per square foot.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Lease
- Address: 224 W. 35th St.
- Market: Penn Plaza
- Tenant: Balance In Motion Physical Therapy
- Landlord: Gatsby Enterprises
- Brokers: Chris Okada & Hiro Iwata - Okada & Company
- Asking Rent: $35 per square foot
- Square Footage: 3,000
The leasing process was successfully carried out by Chris Okada and Hiro Iwata from Okada & Company, representing both the tenant and the landlord. This transaction marks an important step for Balance In Motion Physical Therapy in securing a suitable office space in Penn Plaza.
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