ID.me Leases 4,100 Square Feet Office Space At 3 Columbus Circle From Joseph Moinian
3 Columbus Circle
Building Size
4,100 SF
Asset Type
Office
Closing
Jan 15, 2025
About this deal
AI
The asset involved in this transaction is an office space located at 3 Columbus Circle in Midtown Manhattan. The total square footage of the office is 4,100, making it suitable for corporate use in a prominent market area.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Address: 3 Columbus Circle
- Market: Midtown Manhattan
- Landlord: Joseph Moinian - The Moinian Group
- Tenant: Blake Hall - ID.me
- Brokers: Gregg Rothkin, Hayden Pascal, Jared London, Liz Lash, Sinclair Li, Taylor Walker & Timothy Freydberg - CBRE; Gregg Weisser - Moinian Group
Digital identity network ID.me has secured this office for its inaugural presence in New York City, indicating a strategic expansion into the metropolitan area. The involved brokers, representing both the landlord and tenant, contributed to successfully closing this leasing transaction.
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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