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
About this deal
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
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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