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
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.
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