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240 W 37th St New York, NY ...

Deeptech Inc. Leases Office Space At 240 West 37th Street, Midtown West With Brokers Joshua Berg, Daniel Lolai, Eric Siegel & Joel Kubie
LEASEDOffice

Deeptech Inc. Leases Office Space At 240 West 37th Street, Midtown West With Brokers Joshua Berg, Daniel Lolai, Eric Siegel & Joel Kubie

240 W 37th St New York, NY 10018, USA

Building Size

6,600 SF

Asset Type

Office

Closing

Apr 8, 2021

AI

An office space located at 240 West 37th Street in Midtown West has been leased. The property, spanning 7,300 square feet, was leased by Deeptech Inc. from landlord Sioni Group. The lease transaction was facilitated by brokers Joshua Berg from Newmark Knight Frank, and Daniel Lolai, Eric Siegel, and Joel Kubie from LSL Advisors. The lease was secured at an asking rent of $49 per square foot.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: Not specified
  • Date: 08/04/2021
  • Address: 240 West 37th Street
  • Market: Midtown West

The lease deal involved Deeptech Inc. as the tenant and Sioni Group as the landlord. The transaction was successfully negotiated with the assistance of Joshua Berg from Newmark Knight Frank and Daniel Lolai, Eric Siegel, and Joel Kubie from LSL Advisors.

Players

Daniel Lolai

LSL Advisors

Broker

$211.9M

vol

91 deals

Broker
Sioni Group
Sioni GroupLandlord

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