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
- Property Type: Office
- Transaction Amount: N/A
- Address: 240 West 37th Street
- Market: Midtown South, Manhattan
- Landlord: Sioni Group
- Tenant: VAST Data
- Brokers: Daniel Lolai, Raphael Zar, Eric Siegel, Joel Kubie - LSL Advisors
- Asking Rent: $68/ft
- Lease Term: 5 years
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
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