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320 W 37th St, New York, NY...

AbleTo Inc. Leases 19,358 SF Office Space At 320 West 37th Street In Penn Station Garment District
LEASEDOffice

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

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.

Players

Elizabeth Ughetta

Newmark

Broker

1 deal

Broker
Ray Yadidi

Ray Yadidi

Sioni Group

Landlord

$1.1B

vol

12 deals

Landlord

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