Consulate Of Panama Signs Lease For Office Space At 250 West 54th Street
250 West 54th Street, Manhattan, New York, NY, USA
Building Size
3,400 SF
Asset Type
Office
Closing
Feb 28, 2021
About this deal
AI
The lease transaction for an office asset at 250 West 54th Street in Midtown West has been completed. The tenant, Consulate Of Panama, has secured a brand new custom-built facility in this deal. The lease was negotiated by Samuel Moreinis from Franklin Cohen & Assoc. The landlord for this property is David Zar from Zar Property NY.
Summary of transaction details:
- Property Type: Office
- Address: 250 West 54th Street
- Market: Midtown West
- Tenant: Consulate Of Panama
- Landlord: David Zar (Zar Property NY)
- Broker: Samuel Moreinis (Franklin Cohen & Assoc)
- Asking Rent: $67/ft.
- Square Footage: 3,400
The negotiation process for this lease transaction was complex and involved extensive discussions. The deal required translation and approval from Panama. Samuel Moreinis successfully negotiated a discount for the Consulate, allowing them to secure the new facility at a lower cost compared to their previous location.
For more information about this lease deal, you can contact Samuel Moreinis at 7863766338.
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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