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40 Greene Street

Foundrae Leases Office Space At 40 Greene Street In SoHo, Manhattan
LEASEDOffice

Foundrae Leases Office Space At 40 Greene Street In SoHo, Manhattan

40 Greene Street

Building Size

9,400 SF

Asset Type

Office

Closing

Nov 1, 2023

AI

The office space located at 40 Greene Street in SoHo, Manhattan has been leased. The property, owned by David Zar, Julian Zar, and Jonathan Travis of Zar Property NY, has a total area of 9,400 square feet. The lease agreement was signed with Foundrae, a tenant looking for office space in the area. The asking rent for the space was $98 per square foot.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: N/A
  • Address: 40 Greene Street, SoHo, Manhattan
  • Landlord: David Zar, Julian Zar & Jonathan Travis - Zar Property NY
  • Tenant: Foundrae
  • Asking Rent: $98 per square foot
  • Square Footage: 9,400

This lease transaction was facilitated by David Zar, Julian Zar, and Jonathan Travis of Zar Property NY acting as the landlord's representatives in the deal.

Players

David Zar

Zar Property NY

Landlord

$85M

vol

8 deals

Landlord
Zar Property NY
Zar Property NYLandlord

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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93