United Debt Settlement Leases Office Space At 240 West 37th Street In Penn Plaza With Landlord Sioni Group
240 West 37th Street, New York, NY 10018
Building Size
11,250 SF
Asset Type
Office
Closing
Apr 14, 2021
AI
The office property located at 240 West 37th Street in Penn Plaza has been leased. The tenant, United Debt Settlement, has signed a lease agreement with the landlord, Sioni Group.
Summary of transaction details
- Property Type: Office
- Asking Rent: $49/ft.
- Square Footage: 11,250 SF
- Date: 04/15/2021
The leasing deal was facilitated by several brokers. Daniel Lolai, Eric Siegel, and Joel Kubie from SLAdvisors, along with Gregg Cohen from Cresa Inc., represented the parties involved in the lease agreement.
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