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
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