AbleTo Inc. Leases 19,358 SF Office Space At 320 West 37th Street In Penn Station Garment District
320 W 37th St, New York, NY 10018, USA
Building Size
193,580 SF
Asset Type
Office
Closing
Feb 24, 2020
About this deal
AI
The office property located at 320 West 37th Street in the Penn Station Garment District has been involved in a closed transaction. The property spans a total of 19,358 square feet and was leased by AbleTo Inc. The landlord, Ray Yadidi of Sioni Group, facilitated the deal. The asking rent for the space was $57.50 per square foot.
Summary of transation details
- Property Type: Office
- Tenant: AbleTo Inc.
- Landlord: Ray Yadidi - Sioni Group
- Address: 320 West 37th Street
- Market: Penn Station Garment District
- Asking Rent: $57.50
- SF: 19,358
Thomas Burrus, Fred Smith, and Elizabeth Ughetta from NewmarkKF served as the brokers for this transaction. They played a crucial role in facilitating the deal between AbleTo Inc. and the landlord, Ray Yadidi. Their expertise in the market and negotiation skills were instrumental in successfully closing the 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