facebook
TradedTraded
    Home
    Search
    Closings
    Listings
    On Market
    Off Market
    Add a listing
    Vaults
    shh
    Rankings
    News
    Data
    Socials
    More


Messages

Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

New York

/

Office

/

Lease

/

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

Metromotion Productions Leases Office Space At 50 West 17th Street In New York City
LEASEDOffice

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

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.

Players

Christopher Okada

Okada & Company

Broker

$352.8M

vol

86 deals

Broker
Matthew Fernandez
Verified Badge

Matthew Fernandez

OpenKey™

Broker

$22.3M

vol

12 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