E.E. Cruz Signs 10-Year Lease For 22,717 Square Feet At 225 West 34th Street
225 West 34th Street
$60
$60/SF
Building Size
22,717 SF
Asset Type
Office
Closing
Aug 8, 2024
About this deal
AI
The property located at 225 West 34th Street is an office space in the Manhattan market, leased at a rate of $60 per square foot. The total area of the lease amounts to 22,717 square feet.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $1,363,020
- Lease Duration: 10 years
- Landlord: Jay Futersak - Circle Realty Group
- Tenant: E.E. Cruz
- Brokers: Dennis Someck & Justin Myers - Lee & Associates
- Asking Rent: $60/ft
The lease agreement for the property was signed by E.E. Cruz, a subsidiary of Flatiron Construction. This transaction was facilitated by the brokerage firm Lee & Associates, represented by Dennis Someck and Justin Myers.
On the Map
$60
$60/SF
Office
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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
264383.33%
Cash-on-Cash
-75561.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93