Octave Leases 5000 SF Office Space At 45 E 20th St, New York
45 E 20th St, New York, NY, 10003
Building Size
5,000 SF
Asset Type
Office
Closing
Sep 26, 2019
AI
The property involved in this transaction is an office asset located at 45 E 20th St, New York, NY, 10003. The property encompasses a total area of 5,000 square feet and is situated in the New York market.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 45 E 20th St, New York, NY, 10003
- Square Feet: 5,000
- Tenant: Octave
- Landlord: The Rosen Family
- Tenant's Representative: Michael Okun-Cresa
- Landlord's Representative: Max Koeppell-Koeppell Rosen
- Lease Date: 09/26/2019
This deal was facilitated by tenant's representative Michael Okun from Cresa, while the landlord was represented by Max Koeppell from Koeppell Rosen. This highlights the professional involvement of these representatives in securing the lease agreement between Octave and The Rosen Family.
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