facebook

traded

+ Submit
Home

/

Deals

/

New York

/

Office

/

Lease

/

437 W 13th St, New York, NY...

SoFi Leases Office Space At 860 Washington Street In New York
LEASEDOffice

SoFi Leases Office Space At 860 Washington Street In New York

437 W 13th St, New York, NY, 10014

$155

$155/SF

Building Size

13,000 SF

Asset Type

Office

Closing

Mar 21, 2017

AI

The leased property located at 437 W 13th St, New York, NY, 10014, is an office space spanning 13,000 square feet. The deal was finalized on 03/21/2017, with a rental rate of $155 per square foot. The landlord, Romanoff Equities, represented by Stuart Romanoff, successfully secured Social Finance, a financial tech firm, as the tenant.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not Applicable
  • Market: New York
  • Tenant: Social Finance
  • Landlord: Romanoff Equities
  • Rent/SF: $155
  • Square Feet: 13,000

Social Finance, also known as SoFi, signed a 10-year lease for the office space at 437 W 13th St. The property, situated in the Meatpacking District, provides the firm with a strategic location on the full second floor, offering 280 feet of frontage along the High Line and West 13th Street. The transaction was a significant move for both the tenant and the landlord, enhancing the exposure of the $4.3 billion startup in a trendy and high-traffic area.

Players

Stuart Romanoff

Broker

2 deals

Broker
RE
Romanoff EquitiesLandlord

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

102341.94%

Cash-on-Cash

-29249.64%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93