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40 Worth St, New York, NY, ...

Legal Aid Society Leases 198900 Square Feet At 40 Worth St With GFP Real Estate
LEASEDOffice

Legal Aid Society Leases 198900 Square Feet At 40 Worth St With GFP Real Estate

40 Worth St, New York, NY, 10013

Building Size

198,900 SF

Asset Type

Office

Closing

Jun 2, 2021

AI

The property involved in this lease transaction is located at 40 Worth St, New York, NY, 10013. It accommodates a total area of 198,900 square feet and is situated in the New York market.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not specified
  • Address: 40 Worth St, New York, NY, 10013
  • Square Feet: 198,900
  • Tenant: Legal Aid Society
  • Landlord: GFP Real Estate
  • Tenant's Representatives: Christopher W. Mansfield, Craig Reicher, Greg Maurer-Hollaender - CBRE
  • Brokers: Brian Steinwurtzel - GFP Real Estate

The transaction features involvement from multiple representatives, including tenants represented by Christopher W. Mansfield, Craig Reicher, and Greg Maurer-Hollaender from CBRE, while the landlord's interests were represented by Brian Steinwurtzel from GFP Real Estate.

Players

Christopher W. Mansfield

CBRE

Broker

14 deals

Broker
GFP Real Estate
GFP Real EstateLandlord

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