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28 West 44th Street

Noor Staffing Signs Five-Year Lease With APF Properties For Office Space In Midtown Manhattan
LEASEDOffice

Noor Staffing Signs Five-Year Lease With APF Properties For Office Space In Midtown Manhattan

28 West 44th Street

Building Size

15,209 SF

Asset Type

Office

Closing

Nov 7, 2024

AI

The asset involved in this transaction is located at 28 West 44th Street in Midtown Manhattan. It is an office space comprising 15,209 square feet. The asking rent for the property was in the low $50s per square foot.

Summary of transation details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 28 West 44th Street
  • Market: Midtown Manhattan
  • Landlord: APF Properties
  • Tenant: Noor Staffing
  • Lease Term: Five-year
  • Landlord's Rep: John D. Ryan III & Josh Goldman - Avison Young
  • Tenant's Rep: Joshua Berg & Scott Gutnick - Newmark

Noor Staffing signed a five-year lease for the office space. The lease transaction was facilitated with representation from Avison Young for the landlord and Newmark for the tenant.

Players

Joshua Berg

Newmark

Broker

$60M

vol

5 deals

Broker

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