Project Worldwide Leases Office Space At 412 W 15th St, New York
412 W 15th St, New York, NY, 10011
Building Size
27,177 SF
Asset Type
Office
Closing
Oct 10, 2019
AI
The property involved in this transaction is an office asset located at 412 W 15th St, New York, NY, 10011. This lease transaction took place in the New York market, encompassing a total square footage of 27,177. The landlord of the property is Highgate Holdings.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Address: 412 W 15th St, New York, NY, 10011
- Market: New York
- Square Feet: 27,177
- Tenant: Project Worldwide
- Landlord: Highgate Holdings
- Tenant's Representative: Matthew Fisher, Yarden Drimmer-Cushman & Wakefield
This transaction involved the tenant Project Worldwide, represented by Matthew Fisher and Yarden Drimmer from Cushman & Wakefield. The landlord, Highgate Holdings, was the other key party in this lease agreement, facilitating a significant deal within the New York office market.
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