Steve Witkoff Acquires Office Building In City Hall, New York
Woolworth Bldg, New York, NY 10007, USA
Building Size
4,000 SF
Asset Type
Office
Closing
Nov 10, 2022
AI
UrbanStandardCap has leased 4,000 square feet of office space at 233 Broadway, also known as the Woolworth Building, in New York City's City Hall market. The landlord of the property is Steve Witkoff, a notable figure in the real estate industry.
Summary of transaction details:
- Property Type: Office
- Tenant: UrbanStandardCap
- Landlord: Steve Witkoff
- Brokers: Eli Someck, Alex Bush ($57.50)
- Square Footage: 4,000
- Address: 233 Broadway (Woolworth Building)
- Market: City Hall, New York
Eli Someck and Alex Bush from the brokerage firm represented the tenant, UrbanStandardCap, in this lease agreement. The deal showcases the collaborative efforts of the brokers and the involvement of significant real estate players.
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