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37 East 18th Street

Zar Property NY Leases 8,900 SF Office At 37 East 18th Street To Elite Models
LEASEDOffice

Zar Property NY Leases 8,900 SF Office At 37 East 18th Street To Elite Models

37 East 18th Street

$98

$98/SF

Building Size

8,900 SF

Asset Type

Office

Closing

May 31, 2026

AI

The property involved in the transaction is located at 37 East 18th Street, Manhattan, and is categorized as an office asset. The lease was signed for a space measuring 8,900 square feet at an asking rent of $98 per square foot under a modified gross lease agreement.

Summary of transaction details:

The transaction involved key representatives including David Zar and Julian Zar from Zar Property NY, acting on behalf of the landlord, and Steven Evans from Platinum Commercial, representing the tenant, Elite Models. These individuals played a crucial role in facilitating the deal.

Players

Steven Evans

Platinum Commercial

Broker

$36.1M

vol

47 deals

Broker
Julian Zar

Julian Zar

Zar Property NY

Landlord

$28M

vol

7 deals

Landlord
EM
Elite ModelsTenant

Market 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

161867.35%

Cash-on-Cash

-46262.18%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93