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38 Greene Street

Zar Property NY Secures Office Space Lease At 38 Greene Street In Soho
LEASEDOffice

Zar Property NY Secures Office Space Lease At 38 Greene Street In Soho

38 Greene Street

$159

$159/SF

Building Size

21,400 SF

Asset Type

Office

Closing

Mar 1, 2024

AI

Located at 38 Greene Street in Soho, Manhattan, the office building involved in the transaction features a total square footage of 21,400. The deal was finalized with an asking rent of $159 per square foot under a Full-Service Gross lease agreement.

Summary of transaction details:

The collaboration between Brett Harvey from Newmark and Julian Zar, David Zar, Jon Zar, and Simon Zar from Zar Property NY contributed to the successful finalization of the deal, showcasing the involvement of key individuals and companies in this lease transaction.

Players

Brett Harvey

Newmark

Broker

$270M

vol

28 deals

Broker
JLL
JLLBrokerage

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

99767.30%

Cash-on-Cash

-28513.80%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93