facebook

traded

+ Submit
Home

/

Deals

/

New York

/

Office

/

Lease

/

48 W 37th St, New York, NY,...

Turn On Products Leases 11,525 S/f Office Space In NYC For $45/SF
LEASEDOffice

Turn On Products Leases 11,525 S/f Office Space In NYC For $45/SF

48 W 37th St, New York, NY, 10018

Building Size

11,525 SF

Asset Type

Office

Closing

Dec 20, 2018

AI

Located at 48 West 37th Street in New York, NY, the office property consists of 11,525 square feet and was leased for $45 per square foot. Adams & Co. Real Estate facilitated the ten-year lease agreement for Turn On Products, also known as Younique Clothing, with Forty Eight Thirty Seven Associates.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Tenant's Representative: Gregory (Greg) Albert(Savills)
  • Tenant: Turn On Products
  • Landlord: Forty Eight Thirty Seven Associates
  • Square Feet: 11,525

Greg Albert of Kaufman Leasing Company & Scott L. Kestenbaum assisted Turn On Products in the lease transaction, representing the tenant in securing the full 5th floor of the building for general and executive office use. The prime location of 48 West 37th Street, known for its proximity to major NYC transportation hubs, continues to attract businesses seeking convenient access for employees.

Players

Gregory Albert

Savills

Broker

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