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
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