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Canaccord Genuity Group Signs 15-Year Lease For 73K SF At Vornado Realty's Penn 1 Property
LEASED
$103
New York
See Similar DealsOffice73,000 SF
Leased 07/24/2023
LEASED
Canaccord Genuity Group Signs 15-Year Lease For 73K SF At Vornado Realty's Penn 1 Property
242 West 34th Street
See Similar DealsOffice73,000 SF
Leased 07/24/2023
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$103
Total Square Footage:73,000 SF
Transaction Type:Lease
Canaccord Genuity Group has signed a 15-year lease for 73,000 square feet at Vornado Realty Trust's Penn 1 property in Midtown. The office space is located at 242 West 34th Street in New York. The property is owned by Vornado Realty Trust and is being leased to Canaccord Genuity Group, an international financial services company.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not specified
- Address: 242 West 34th Street
- Market: New York
The lease deal was facilitated by Robert Lowe and Paige Engeldrum, brokers from Cushman & Wakefield, who represented both the landlord, Vornado Realty Trust, and the tenant, Canaccord Genuity Group. The asking rent for the property was $103 per square foot. The lease term is set for 15 years.
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Deal Type
NNN (Triple Net)
Effective Rent (Annual)
$8,619,690.85
Total Lease Value
$86,196,908.54
Net Landlord Cash Flow$8,619,690.85
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