Two Trees Management Company Leases Office Space At 50 W 23rd St, New York
50 W 23rd St, New York, NY, 10010
Building Size
31,000 SF
Asset Type
Office
Closing
Jan 5, 2015
AI
Located at 50 West 23rd St in New York, NY, the office property spans 31,000 square feet. Two Trees Management Company serves as the landlord for this asset.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not provided
- Tenant's Rep: Michael Gottlieb(Avison Young)
- Landlord: Two Trees Management Company
- Tenant: Dropbox
- Tenant's Rep: Martin Cottingham and Anthony LoPresti (Avison Young)
Dropbox secured a lease for the 31,000 square feet office space at 50 West 23rd St in New York. Avison Young's Martin Cottingham and Anthony LoPresti, alongside Michael Gottlieb, represented the tenant 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