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300 East 42nd Street, New Y...

Consulate General Of Jamaica Leases Office Space At 300 East 42nd Street In New York City
LEASEDOffice

Consulate General Of Jamaica Leases Office Space At 300 East 42nd Street In New York City

300 East 42nd Street, New York City, New York 10017, United States

$67

$67/SF

Building Size

42,500 SF

Asset Type

Office

Closing

Jan 10, 2023

AI

The Consulate General of Jamaica has signed a 20-year lease for office space located at 300 East 42nd Street in New York. The property, owned by Somerset Partners and Meadow Partners, will serve as the consulate's new location. The lease was facilitated by brokers Gordon Ogden and Ben Mohr of Byrnam Wood.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $67/ft. (Asking Rent)
  • Square Footage: 42,500
  • Date: January 10, 2023
  • Market: New York

The lease agreement for the office space was signed on January 10, 2023. The Consulate General of Jamaica will occupy a total of 42,500 square feet at an asking rent of $67 per square foot. The property, located at 300 East 42nd Street in New York, is owned by Somerset Partners and Meadow Partners. The lease was negotiated by brokers Gordon Ogden and Ben Mohr of Byrnam Wood.

Players

Gordon Ogden

Bradford Allen

Broker

2 deals

Broker
Meadow Partners
Meadow PartnersLender
Meadow Partners
Meadow PartnersLandlord

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

236761.19%

Cash-on-Cash

-67667.08%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93