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369 Lexington Avenue

GSP Group Leases 3,000 SF Office Space At 369 Lexington Avenue In Midtown Manhattan
LEASEDOffice

GSP Group Leases 3,000 SF Office Space At 369 Lexington Avenue In Midtown Manhattan

369 Lexington Avenue

$60

$60/SF

Building Size

3,000 SF

Asset Type

Office

Closing

Oct 23, 2023

AI

The property involved in this lease transaction is a 3,000 square foot office space located at 369 Lexington Avenue in Midtown Manhattan. The landlord of the property is Triangle Assets, and the tenant is GSP GROUP, represented by Brandon Chancey and Sean Klein. The lease was brokered by Joe Sitt of BH Realty. The asking rent for the space is $60 per square foot. The lease type is a modified gross lease.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 369 Lexington Avenue
  • Market: Midtown Manhattan
  • Landlord: Triangle Assets
  • Tenant: GSP GROUP - Brandon Chancey & Sean Klein
  • Broker: Joe Sitt - BH Realty
  • Asking Rent: $60/ft
  • SF: 3,000
  • Lease Type: Modified Gross Lease

BH Realty, led by Joe Sitt, is a full-service commercial and residential brokerage that specializes in both exclusive leasing and sales. The company prioritizes building strong relationships with clients and provides advice to owners and developers on how to maximize the growth potential of their assets. For complimentary services such as market updates, comp/pricing reports, and construction/renovation consultations, you can email [email protected]. Brokers interested in enhancing their real estate skill set, working with exclusive listings, and developing a lifelong career within the industry can also reach out to [email protected].

Players

Joe Sitt

BH Realty

Broker

$58.5M

vol

3 deals

Broker
TA
Triangle AssetsLandlord

New York Office Market Snapshot

Boundary boundary · Office · Lease transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

264383.33%

Cash-on-Cash

-75561.57%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93