A360 Media Leases 15,000 SF Office Space At 40 Exchange Place In Manhattan's Financial District
40 Exchange Place
$45
$45/SF
Building Size
15,000 SF
Asset Type
Office
Closing
Apr 11, 2023
About this deal
AI
GFP Real Estate, LLC has recently secured new lease signings at 40 Exchange Place in Manhattan's Financial District. The total leased area amounts to over 20,000 square feet, with one notable tenant being a360 Media. They have leased a 15,000 square foot space in the building, which will serve as their new general and executive offices.
Summary of transaction details
- Property Type: Office
- Transaction Date: 04/12/2023
- Address: 40 Exchange Place, Manhattan
- Market: Manhattan's Financial District
- Landlord: GFP Real Estate, LLC - Allen Gurevich
- Tenant: a360 Media
- Tenant's Representative: James Emden - Helmsley Spear
- Asking Rent: $45/ft.
- Leased Area: 15,000 square feet
This lease agreement at 40 Exchange Place represents a significant move for a360 Media. The company, with representation by James Emden of Helmsley Spear, will now have a dedicated space to house its general and executive offices within the Financial District of Manhattan.
On the Map
$45
$45/SF
Office
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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