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345 Hudson Street

Fanatics Leases 60,000 SF Office Space At 345 Hudson Street With Steven Rotter Of Newmark
LEASEDOffice

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

Steven Rotter

Newmark

Broker

$270M

vol

21 deals

Broker

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