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23 W 18th St, New York, NY,...

Kaufman Organization Leases 18,850SF Office Space At 23 W 18th St, New York
LEASEDOffice

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

Michael Heaner

Kaufman Organization

Broker

8 deals

Broker
Kaufman Organization
Kaufman OrganizationBrokerage
Kaufman Organization
Kaufman OrganizationLandlord

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