Fanatics Leases 60,000 SF Office Space At 345 Hudson Street With Steven Rotter Of Newmark
345 Hudson Street
$45
$45/SF
Building Size
60,000 SF
Asset Type
Office
Closing
May 8, 2025
AI
The property involved in this transaction is located at 345 Hudson Street in the Hudson Square market. It is classified as an office asset with a lease asking rent of $45 per square foot, encompassing a total size of 60,000 square feet. The lease term is set for 3 years and operates under a Full Service Gross lease type.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $45/ft
- Lease Term: 3 years
- Lease Type: Full Service Gross
- Landlord: Hines & Trinity
- Tenant: Fanatics
- Tenant's Representative: Steven Rotter - Newmark
Key individuals involved in this transaction include Michael Rubin, Michael Hudson, and Sujohn Sarkar, who are part of the team surrounding the deal beyond the tenant's representative, Steven Rotter.
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
352511.11%
Cash-on-Cash
-100748.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93