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40 Wall Street

Gotham Lending Icarus Fund And Bluegrass Lending Lease Office At 40 Wall Street For $59/ft
LEASEDOffice

Gotham Lending Icarus Fund And Bluegrass Lending Lease Office At 40 Wall Street For $59/ft

40 Wall Street

$59

$59/SF

Building Size

14,137 SF

Asset Type

Office

Closing

Apr 4, 2025

AI

The property asset involved in this transaction is located at 40 Wall Street in the Financial District of Manhattan. It is classified as an office asset with a total square footage of 14,137. The asking rent for this property is set at $59 per square foot, and the lease type is a Modified Gross Lease.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $59/ft
  • Lease Type: Modified Gross Lease
  • Landlord: Trump Organization
  • Tenant: Gotham Lending, Icarus Fund & Bluegrass Lending
  • Landlord's Representative: Myles Fennon & Kelly O'Rourke - The Trump Organization
  • Tenant's Representative: JD Cohen & Ariel Harwood - Newmark

This lease transaction features multiple tenants, including Gotham Lending, Icarus Fund, and Bluegrass Lending. The landlord is represented by Myles Fennon and Kelly O'Rourke from The Trump Organization, while the tenants are represented by JD Cohen and Ariel Harwood from Newmark.

Players

JD Cohen

Newmark

Broker

$14.8M

vol

13 deals

Broker
Trump Organization
Trump OrganizationLandlord

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

268864.41%

Cash-on-Cash

-76842.27%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93