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233 Spring Street

Gordon Zellner Of Evergreen Trading Leases Office Space From Laurence Gluck Of Stellar Management In SoHo
LEASEDOffice

Gordon Zellner Of Evergreen Trading Leases Office Space From Laurence Gluck Of Stellar Management In SoHo

233 Spring Street

Building Size

20,309 SF

Asset Type

Office

Closing

Dec 11, 2024

AI

The property asset involved in this lease transaction is located at 233 Spring Street in the SoHo market. The asset is classified as an office space with a total square footage of 20,309. Evergreen Trading will be relocating to this space as part of its expansion strategy.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not disclosed
  • Address: 233 Spring Street
  • Market: SoHo
  • Landlord: Laurence Gluck - Stellar Management
  • Tenant: Gordon Zellner - Evergreen Trading
  • Broker: Michael Berman - JLL
  • Lease Term: Seven years
  • Subleasing from: Flatiron Health
  • Relocation: Early 2025

This lease deal reflects Evergreen Trading's commitment to enhancing its collaborative work environment while supporting its growth. The involvement of Michael Berman from JLL as the broker highlights the professional expertise facilitating this transaction.

Players

Michael Berman

JLL

Broker

9 deals

Broker

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