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
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