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

Reciprocal Ventures Leases Office Space At 24 W 25th St, New York
LEASEDOffice

Reciprocal Ventures Leases Office Space At 24 W 25th St, New York

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

Building Size

5,530 SF

Asset Type

Office

Closing

Mar 27, 2020

AI

The office located at 24 W 25th St, New York, NY, 10010, in New York, consists of 5530 square feet and was leased on 03/27/2020. The tenant, Reciprocal Ventures, secured this space in a deal facilitated by their representatives, Nick Masi and Troy Elias from Cushman & Wakefield. The landlord of the property is Savanna Realty.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not Applicable
  • Tenant: Reciprocal Ventures
  • Tenant's Representatives: Nick Masi and Troy Elias from Cushman & Wakefield
  • Landlord: Savanna Realty
  • Market: New York
  • Address: 24 W 25th St, New York, NY, 10010
  • Square Feet: 5530

The lease agreement for the office at 24 W 25th St was successfully negotiated by Nick Masi and Troy Elias of Cushman & Wakefield, acting as the tenant's representatives, ensuring that Reciprocal Ventures secured the ideal space for their operations. Savanna Realty, the landlord, facilitated the deal with professionalism and efficiency, resulting in a mutually beneficial agreement for all parties involved.

Players

Troy Elias

Cushman & Wakefield

Broker

4 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