Kaufman Organization Leases 18,850SF Office Space At 23 W 18th St, New York
23 W 18th St, New York, NY, 10011
Building Size
18,850 SF
Asset Type
Office
Closing
Feb 1, 2023
AI
The office property located at 23 W 18th St, New York, NY, 10011, in the bustling market of New York, spans a total of 18,850 square feet. The Landlord, Kaufman Organization, oversaw the lease agreement signed on 02/01/2023. Representing the Landlord in this transaction were Michael Heaner and Samuel (Sam) Hartstein from Gemstone Realty Group.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not Applicable
- Address: 23 W 18th St, New York, NY, 10011
- Market: New York
- Landlord's Representative: Michael Heaner, Samuel (Sam) Hartstein (Gemstone Realty Group)
- Landlord: Kaufman Organization
- Square Feet: 18,850
The lease deal was successfully negotiated with the skilled representation of Michael Heaner and Samuel (Sam) Hartstein from Gemstone Realty Group acting on behalf of Kaufman Organization. The strategic location and sizable square footage of the property undoubtedly added value to the transaction, making it a significant milestone for all involved parties.
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