Windsor Management Leases 35,000 SF Office Space In Midtown South At $39/ft
256 West 36th Street
$39
$39/SF
Building Size
35,000 SF
Asset Type
Office
Closing
Jun 1, 2024
AI
The property asset involved in this transaction is an office space located at 256 West 36th Street in the Midtown South market. The leased area spans 35,000 square feet with an asking rent of $39 per square foot under a Full Service Gross lease agreement.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $39/ft
- Address: 256 West 36th Street
- Square Footage: 35,000
- Market: Midtown South
- Landlord: Windsor Management
- Landlord's Representative: Catherine O'Toole & David Scher - Lee & Associates NYC
Lee & Associates NYC acted as the exclusive leasing agent in this transaction and has successfully leased 100% of the property, highlighting the efficiency in filling the available office space.
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
406743.59%
Cash-on-Cash
-116248.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93