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
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