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24 W 25th St, New York, NY ...

Barking Owl Sound Leases 5,530 SF Office Space At 24-28 West 25th Street In Flatiron
LEASEDOffice

Barking Owl Sound Leases 5,530 SF Office Space At 24-28 West 25th Street In Flatiron

24 W 25th St, New York, NY 10010, USA

Building Size

5,530 SF

Asset Type

Office

Closing

Sep 3, 2020

AI

The office property located at 24-28 West 25th Street in the Flatiron market has been involved in a closed transaction. The property spans a total of 5,530 square feet and was leased for a term of 11 years. The tenant, Barking Owl Sound, entered into a lease agreement with the landlord, Savanna Real Estate Fund. The asking rent for the office space was $74 per square foot.

Summary of transaction details

  • Property Type: Office
  • Asking Rent: $74
  • Square Footage: 5,530
  • Address: 24-28 West 25th Street
  • Market: Flatiron

Daniel Lolai and Michael Hymowitz from LSL Advisors represented the tenant, Barking Owl Sound, in the transaction. Theodora Livadiotis and Anthony LoPresti were the representatives for the landlord, Savanna Real Estate Fund. These individuals played crucial roles in facilitating the lease agreement between the tenant and the landlord.

Players

Daniel Lolai

LSL Advisors

Broker

$211.9M

vol

92 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