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

Two Trees Management Company Leases Office Space At 50 W 23rd St, New York
LEASEDOffice

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:

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

Michael Gottlieb

Avison Young

Broker

9 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