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
About this deal
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.
On the Map
$59
$59/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
268864.41%
Cash-on-Cash
-76842.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93