Michael Rubin Of Fanatics Leases 54000 Square Feet At 345 Hudson Street In Manhattan
345 Hudson Street
Building Size
54,000 SF
Asset Type
Office
Closing
May 13, 2025
AI
The property asset involved in this transaction is an office located at 345 Hudson Street in Manhattan’s Hudson Square market. This office space encompasses a total area of 54,000 square feet and is leased by Fanatics, a notable player within the sports merchandise industry, marking an expansion of their presence in New York City beyond their current headquarters at 95 Morton Street.
Summary of transation details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Address: 345 Hudson Street
- Market: Hudson Square
- Landlord: Sujohn Sarkar - Hudson Square Properties
- Tenant: Michael Rubin - Fanatics
- Broker: Steven Rotter - Newmark
In this deal, Michael Rubin represents Fanatics as the tenant while Sujohn Sarkar is the landlord overseeing the property. The transaction was facilitated by broker Steven Rotter from Newmark, who played a key role in bringing the two parties together for this lease agreement.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93