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23 W 43rd St, New York, NY,...

Advantage Sales & Marketing Leases 20378 Square Feet At 23 W 43rd St New York
LEASEDOffice

Advantage Sales & Marketing Leases 20378 Square Feet At 23 W 43rd St New York

23 W 43rd St, New York, NY, 10036

Building Size

20,378 SF

Asset Type

Office

Closing

Dec 5, 2019

AI

The Club Row Building is located at 23 W 43rd St, New York, NY, 10036. This property offers a total of 20,378 square feet of office space, and Advantage Sales & Marketing will occupy a 15,093-square-foot area on the 14th floor, along with a 5,285-square-foot space on the ninth floor. The building comprises a total of 372,000 square feet and is positioned in the New York market, featuring onsite amenities such as a restaurant, Dunkin' Donuts, and various services.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not specified
  • Square Feet: 20,378
  • Address: 23 W 43rd St, New York, NY, 10036
  • Tenant: Advantage Sales & Marketing
  • Landlord: APF Properties
  • Tenant's Representative: Jason Ward (Cushman & Wakefield)
  • Landlord's Representatives: Joshua (Josh) Gosin (Newmark), Matthew "Matt" Augarten (Newmark)
  • Broker: Andrew Sachs (Newmark)

Andrew Sachs, Tim Gibson, Josh Gosin, and Matthew Augarten of Newmark represented APF Properties in the lease negotiations. Jason Ward of Cushman & Wakefield acted as the representative for Advantage Sales & Marketing, facilitating the consolidation of the company's two previous locations in Manhattan.

Players

Jason Ward

Cushman & Wakefield

Broker

$167.7M

vol

5 deals

Broker
APF Properties
APF PropertiesLandlord

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