Hyro Inc & Reform Alliance Lease Office Space At 240 West 37th Street With Sioni Group As Landlord
240 West 37th Street
$52
$52/SF
Building Size
15,500 SF
Asset Type
Office
Closing
May 7, 2025
About this deal
AI
The office asset located at 240 West 37th Street spans 15,500 square feet in the Midtown South market. The transaction was conducted under a Modified Gross Lease with an asking rent of $52 per square foot.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $52/ft
- Address: 240 West 37th Street
- Market: Midtown South
- Lease Type: Modified Gross Lease
- Landlord: Sioni Group
- Tenant: Hyro Inc & Reform Alliance
- Landlord's Representative: Daniel Lolai, Chery Anavian & Raymond (Ray Balas) Balassiano - LSL Advisors
- Tenant's Representative: Eric Siegel, Raphael (Ralph) Zar - LSL Advisors, Greg Herman & Dale Schlather - Cushman & Wakefield
The transaction involved key representatives from both the landlord and tenant sides. The landlord's interests were represented by Daniel Lolai, Chery Anavian, and Raymond (Ray Balas) Balassiano from LSL Advisors, while the tenant was represented by Eric Siegel and Raphael (Ralph) Zar from LSL Advisors, alongside Greg Herman and Dale Schlather from Cushman & Wakefield.
On the Map
$52
$52/SF
Office
View full map
Players
New York Office Market Snapshot
Boundary boundary · Office · Lease transactions
Loading comparables…
Deal FAQ
Visit Greg Herman to view all their deals.
Browse New York office leases on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
305057.69%
Cash-on-Cash
-87186.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93