facebook

traded

+ Submit
Home

/

Deals

/

New York

/

Office

/

Lease

/

50 W 17th St New York, NY 1...

Sola Salons Leases 7,200 SF Office Space At 50 West 17th Street In Flatiron, Manhattan
LEASEDOffice

Sola Salons Leases 7,200 SF Office Space At 50 West 17th Street In Flatiron, Manhattan

50 W 17th St New York, NY 10011, USA

$55

$55/SF

Building Size

7,200 SF

Asset Type

Office

Closing

Aug 16, 2023

AI

Okada & Co. is pleased to announce the leasing of 7,200 SF of Class B Office space at 50 West 17th Street in the Flatiron neighborhood of Manhattan. The property, owned by Argo Real Estate, has a total leased space of 25,200 SF and is located in a prime location in one of Manhattan's most sought-after markets. The asking rent for the leased space was $55 per square foot, resulting in a significant transaction for both the landlord and tenant.

Summary of transaction details:

This transaction marks the 93rd deal of the year for Okada & Co., illustrating their significant presence and success in the NYC office market. With over 3 million square feet of commercial real estate in Midtown Manhattan, Okada & Co. has positioned itself as a prominent player in the post-pandemic office market. The company's success is attributed to its readiness to make deals, quick turnaround time, marketing prowess, and broker-friendly approach.

Players

Christopher Okada

Okada & Company

Broker

$352.8M

vol

85 deals

Broker
A
ArgoLandlord

Market 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

288418.18%

Cash-on-Cash

-82430.80%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93