Marlin Mech Leases Office Space At 363 Seventh Avenue, Chelsea
363 7th Avenue, New York City, New York 10011, United States
Building Size
4,000 SF
Asset Type
Office
Closing
Feb 28, 2022
AI
An office located at 363 Seventh Avenue in the Chelsea market area has been leased. The lease transaction took place on March 1, 2022. The office space, measuring approximately 4,000 square feet, was leased by Marlin Mech. The landlord for this property is Empire Management. The lease was facilitated by brokers Chris Okada and Hiro Iwata from Okada & Co.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not available
- Address: 363 Seventh Avenue
- Market: Chelsea
- Landlord: Empire Management
- Tenant: Marlin Mech
- Brokers: Chris Okada & Hiro Iwata - Okada & Co.
The deal was handled by brokers Chris Okada and Hiro Iwata from Okada & Co. They were instrumental in facilitating the lease transaction between Marlin Mech and the landlord, Empire Management. This lease represents a significant development in the Chelsea market, as it signals the resurgence of New York City's real estate sector in 2022 and sets the tone for future growth and opportunities in the coming years.
Note from @Okadaco: Follow @ChrisOkada... My bad Traded peeps for not posting for a while... been SLAMMED at the office. Can we all agree that NYC is coming back? Can we all agree that 2022 is the beginning of the renaissance? Can we all agree that whatever it is you want your life to look like in 2023,2024, & 2025 depends on what you're doing right this moment? Great. So let's get it. EVERY DEAL COUNTS! ALWAYS BE CLOSING! BETTING ON NYC!
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