Fairstead Capital Leases Office Space In New York To Boston Properties
242 W 55th St, New York, NY, 10019
Building Size
15,050 SF
Asset Type
Office
Closing
Jan 27, 2017
AI
The office property located at 242 W 55th St, New York, NY, 10019, spanning 15,050 square feet, was leased on January 27, 2017. The tenant, Fairstead Capital, secured the space in New York, with Stephen Siegel and Taylor Scheinman from CBRE representing them in the transaction. The landlord, Boston Properties, facilitated the lease agreement.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not Applicable
- Address: 242 W 55th St, New York, NY, 10019
- Market: New York
- Tenant: Fairstead Capital
- Tenant's Rep: Stephen Siegel(CBRE), Taylor Scheinman(CBRE)
- Landlord: Boston Properties
- Square Feet: 15,050
Stephen Siegel and Taylor Scheinman of CBRE played crucial roles as tenant representatives for Fairstead Capital in securing the lease for the office space at 242 W 55th St. This transaction underscores the collaborative efforts of key individuals and companies, demonstrating the vibrant commercial real estate activity in New York.
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