VTS Signs 6-Year Sublease For 34,325 SF Office Space At 3 Bryant Park In Manhattan
3 Bryant Park New York, New York 10036, USA
Building Size
34,325 SF
Asset Type
Office
Closing
Jul 18, 2023
About this deal
AI
A tenant, VTS, has signed a six-year sublease for a 34,325-square-foot office space at 3 Bryant Park in Manhattan. The deal was facilitated by brokers from Savills, Transwestern, JLL, and CBRE. Savills' Jim Wenk, Transwestern's Patrick Heeg, and JLL's Sam Seiler represented the tenant, while CBRE's Sacha Zarba, James Ackerson, and Alice Fair represented the sublandlord, Salesforce.
Summary of transation details
- Property Type: Office
- Transaction Amount: Not mentioned
- Square Footage: 34,325 SF
- Address: 3 Bryant Park, Manhattan
- Market: Manhattan
The lease agreement involves VTS, a tenant, leasing a 34,325-square-foot office space at 3 Bryant Park in Manhattan. Savills' Jim Wenk, Transwestern's Patrick Heeg, and JLL's Sam Seiler acted as the tenant's representatives in the deal. On the other hand, CBRE's Sacha Zarba, James Ackerson, and Alice Fair represented the sublandlord, Salesforce.
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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