La Nacional Leases Office Space At 260 West 39th Street In Garment District
260 West 39th Street, New York, NY 10018
Building Size
5,622 SF
Asset Type
Office
Closing
Apr 14, 2021
AI
The office space located at 260 West 39th Street in the Garment District has recently been leased. The lease transaction was completed on April 15, 2021.
Summary of transaction details
- Property Type: Office
- Asking Rent: $45/ft.
- Square Footage: 5,622
- Address: 260 West 39th Street, Garment District
La Nacional is the tenant who has secured the lease for this office space. The landlord, Michael Orbach, facilitated the lease agreement. Richard Bailey, represented La Nacional as their tenant's representative, with assistance from Michael Katz of Assin Sabbagh Realty. Joel Kubie and Daniel Lolai, from LSL Advisors, acted as the landlord's representatives during the transaction.
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