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Woolworth Bldg, New York, N...

Steve Witkoff Acquires Office Building In City Hall, New York
LEASEDOffice

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

Alexander Bush

Handler Real Estate Services

Broker

3 deals

Broker

Steven Witkoff

Witkoff

Landlord

$1.3B

vol

11 deals

Landlord
U
UrbanStandardCapTenant

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