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225 West 34th Street

Jeffrey Creighton Of Control Solutions Group Leases 20,000 Square Feet At 225 West 34th Street
LEASEDOffice

Jeffrey Creighton Of Control Solutions Group Leases 20,000 Square Feet At 225 West 34th Street

225 West 34th Street

$60

$60/SF

Building Size

20,000 SF

Asset Type

Office

Closing

Feb 11, 2025

AI

The property is located at 225 West 34th Street, Manhattan, and is categorized as an office asset. It features a lease transaction with an asking rent of $60 per square foot for a total area of 20,000 square feet.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $60/ft
  • Lease Term: 10-year lease
  • Landlord: Jay Futersak - Circle Realty Group
  • Tenant: Jeffrey Creighton - Control Solutions Group
  • Broker: Richard Warshauer - Colliers
  • Previous Address of Tenant: 122 West 27th Street
  • Parent Company: Emcor Group
  • Other Tenants in the Building: E.E. Cruz and Regus

This transaction involved Control Solutions Group, which signed a 10-year lease agreement with Circle Realty Group for office space at 14 Penn Plaza. The deal signifies a strategic relocation from their previous location to accommodate business needs.

Players

Richard Warshauer

Colliers

Broker

$40M

vol

3 deals

Broker

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