Metromotion Productions Leases Office Space At 50 West 17th Street In New York City
50 W 17th St New York, NY 10011, USA
$55
$55/SF
Building Size
7,200 SF
Asset Type
Office
Closing
Feb 8, 2023
About this deal
AI
An office space located at 50 West 17th Street in New York City has been leased by Metromotion Productions. The landlord of the property is Argo Real Estate. The lease was facilitated by brokers Thomas Capuano, Christopher Okada, and Matthew Fernandez of Okada & Company. The total square footage of the space is 7,900 sq ft, and the asking rent was $55 per sq ft.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Lease
- Address: 50 West 17th Street
- Market: New York City
The leasing team, consisting of Thomas Capuano, Christopher Okada, and Matthew Fernandez, represented Metromotion Productions in the deal. They are affiliated with Okada & Company, a brokerage agency located in Midtown Manhattan.
As mentioned by Christopher Okada in a note, December and January were relatively quiet, but the team continued their efforts. Despite the challenging circumstances, Okada expresses optimism for the future and the positive impacts of closing deals. He emphasizes the importance of perseverance and is confident in New York City's real estate market.
On the Map
$55
$55/SF
Office
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Market Office Market Snapshot
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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