Motion P/T Leases Office Space At 250 West 54th Street In Midtown With Brokers Michael Doetsch And David Zar
250 West 54th Street & 250 West 54th Street, New York, NY 10019
$63
$63/SF
Building Size
3,685 SF
Asset Type
Office
Closing
Feb 28, 2019
About this deal
AI
The leased property in this closed transaction is an office space located at 250 West 54th Street in the Midtown market. The tenant, Motion P/T, signed a lease agreement with the landlord, Zar Property NY. The leasing transaction was facilitated by brokers Michael Doetsch from Cresa and David Zar from Zar Property NY. The asking rent for this 4,000 square foot space was $63 per square foot.
Summary of transaction details
- Property Type: Office
- Transaction Amount: N/A
- Date: 03/01/2019
- Address: 250 West 54th Street
- Market: Midtown
This lease deal between Motion P/T and Zar Property NY adds another medical tenant to the building, making them the fourth medical tenant in the property. It's worth noting that the landlord was represented in-house during this transaction.
On the Map
$63
$63/SF
Office
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
251793.65%
Cash-on-Cash
-71963.40%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93