Platinum Properties Acquires Office Space At 33 Irving Place In NYC
33 Irving Pl New York, NY 10003, USA
$65
$65/SF
Building Size
16,000 SF
Asset Type
Office
Closing
Jun 21, 2023
AI
The office building located at 33 Irving Place in New York City has been leased. The property, with a total square footage of 16,000, was leased for a term of 11 years. The landlord is GFP Real Estate, and the landlord's representative in the deal is Greg Herman from Cushman & Wakefield. The tenant's representatives, Steven Evans and Khashy Eyn, represented Platinum Properties. The asking rent for the property was $65 per square foot.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not available
- Address: 33 Irving Place, New York City
- Market: New York City
- Landlord: GFP Real Estate
- Landlord's Representative: Greg Herman - Cushman & Wakefield
- Tenant's Representatives: Steven Evans & Khashy Eyn - Platinum Properties
- Asking Rent: $65 per square foot
- Lease Term: 11 years
The deal involves GFP Real Estate as the landlord, with their representative Greg Herman from Cushman & Wakefield. On the tenant's side, Steven Evans and Khashy Eyn from Platinum Properties served as the representatives. This long-term lease agreement will offer the tenant a total of 16,000 square feet of office space at 33 Irving Place, New York City. The asking rent for the lease was $65 per square foot.
Players
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
244046.15%
Cash-on-Cash
-69749.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93