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50 W 23rd St, New York, NY,...

Newmark Represents Tenant In Lease Transaction At 50 W 23rd St New York For 7785 Square Feet
LEASEDOffice

Newmark Represents Tenant In Lease Transaction At 50 W 23rd St New York For 7785 Square Feet

50 W 23rd St, New York, NY, 10010

Building Size

7,785 SF

Asset Type

Office

Closing

May 25, 2022

AI

The property involved in this lease transaction is located at 50 W 23rd St, New York, NY, 10010. It spans a total of 7,785 square feet. The market for this transaction is New York, and it is under the management of Two Trees Management.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not specified
  • Address: 50 W 23rd St, New York, NY, 10010
  • Square Feet: 7785
  • Tenant's Representatives: Corey Borg, Newmark; Dylan Weisman, Newmark
  • Landlord: Two Trees Management

The lease transaction features the involvement of tenant representatives Corey Borg and Dylan Weisman, both from Newmark, who facilitated the process for the tenant. Two Trees Management is the landlord overseeing the property involved in the transaction.

Players

Corey Borg

Newmark

Broker

10 deals

Broker
Two Trees Management
Two Trees ManagementBrokerage
Two Trees Management
Two Trees ManagementLandlord

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