Dovetail Investment Group Leases Office At 40 Exchange Place, Manhattan With GFP Real Estate
40 Exchange Place
$45
$45/SF
Building Size
3,469 SF
Asset Type
Office
Closing
Mar 20, 2024
About this deal
AI
A 3,469-square-foot office space located at 40 Exchange Place in Manhattan has been leased to Coburn Sheppick of Dovetail Investment Group. The landlord, GFP Real Estate, facilitated the lease with an asking rent of $45 per square foot.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not Applicable
- Address: 40 Exchange Place
- Market: Manhattan
- Tenant: Coburn Sheppick - Dovetail Investment Group
- Landlord: GFP Real Estate
- Broker: Allen Gurevich - GFP Real Estate
- Asking Rent: $45/ft
Dovetail Investment Group, a finance firm, sealed the lease deal for the office space with GFP Real Estate representing the landlord in the transaction.
On the Map
$45
$45/SF
Office
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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
352511.11%
Cash-on-Cash
-100748.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93