Even Financial Leases Office Space At 50 West 23rd Street In Flatiron District- Two Trees Management Acts As Landlord
50 West 23rd Street, Manhattan, New York, NY, USA
Building Size
11,935 SF
Asset Type
Office
Closing
Feb 24, 2021
AI
The office property at 50 West 23rd Street in the Flatiron District of New York City has been leased. The asset spans a total of 11,935 square feet and is located in a prime location.
Summary of transaction details
- Property Type: Office
- Address: 50 West 23rd Street
- Market: Flatiron District
The tenant involved in the lease is Even Financial. The landlord is Two Trees Management, represented by Jed Walentas. The brokers involved in the deal are Dennis Someck and Justin Myers from Lee & Associates NYC, and Elizabeth Bueno from Two Trees.
The lease was signed for a term of five years. The asking rent for the property was $54 - 66 per square foot.
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