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:
- Property Type: Office
- Transaction Amount: $98/ft
- Lease Type: Modified Gross Lease
- Address: 37 East 18th Street
- Market: Manhattan
- Landlord: Zar Property NY
- Tenant: Elite Models
- Landlord's Representative: David Zar & Julian Zar - Zar Property NY
- Tenant's Representative: Steven Evans - Platinum Commercial
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
Market 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
161867.35%
Cash-on-Cash
-46262.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93