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
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