facebook

traded

+ Submit
Home

/

Deals

/

New York

/

Office

/

Lease

/

40 Worth Street New York, N...

Acumen Fund, Inc Extends Lease For 11,743 SF Office Space In TriBeCa, Manhattan
LEASEDOffice

Acumen Fund, Inc Extends Lease For 11,743 SF Office Space In TriBeCa, Manhattan

40 Worth Street New York, New York 10013, USA

Building Size

11,743 SF

Asset Type

Office

Closing

Jul 24, 2023

AI

An 11-year lease extension has been signed by Acumen Fund, Inc for its 11,743 square feet of office space located at 40 Worth Street in TriBeCa, Manhattan. The property is an office space with a total area of 11,743 square feet.

Summary of transation details

  • Property Type: Office
  • Transaction Amount: Not available
  • Address: 40 Worth Street
  • Market: TriBeCa
  • Tenant: Acumen Fund, Inc
  • Landlord: 40 Worth Street Associates, LLC
  • Landlord's Representative: Jeffrey Gural & Roy Lapidus - GFP Real Estate
  • Tenant's Representative: Nick Farmakis & John A. Mambrino - Savills

The lease extension deal at 40 Worth Street was arranged by GFP Real Estate, represented by Jeffrey Gural and Roy Lapidus, acting as the landlord's representatives. Savills, represented by Nick Farmakis and John A. Mambrino, acted as the tenant's representatives in the transaction.

Players

Roy Lapidus

Broker

$59M

vol

3 deals

Broker

New York Office Market Snapshot

Boundary boundary · Office · Lease transactions

Loading comparables…

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