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

VAST Data Leases 6,600 SF Office Space At 240 West 37th Street In Midtown South Manhattan
LEASEDOffice

VAST Data Leases 6,600 SF Office Space At 240 West 37th Street In Midtown South Manhattan

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

$68

$68/SF

Building Size

6,600 SF

Asset Type

Office

Closing

Sep 4, 2023

AI

The property involved in this lease transaction is an office space located at 240 West 37th Street in Midtown South, Manhattan. The asset spans approximately 6,600 square feet and is owned by Sioni Group. The tenant, VAST Data, has signed a lease agreement for a term of 5 years. The asking rent for the office space is $68 per square foot.

Summary of transation details

The deal was facilitated by brokers Daniel Lolai, Raphael Zar, Eric Siegel, and Joel Kubie from LSL Advisors, who acted as the representatives for both the tenant and the landlord. The lease agreement for the office space at 240 West 37th Street holds great potential for VAST Data as they embark on a 5-year occupancy in Midtown South, Manhattan.

Players

Daniel Lolai

LSL Advisors

Broker

$211.9M

vol

92 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

233279.41%

Cash-on-Cash

-66671.97%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93