New York Cancer & Blood Specialists Leases 35469 Square Feet At YoungWoo & Associates' Radio Tower
500 West 181st Street
Building Size
35,469 SF
Asset Type
Office
Closing
Jan 29, 2025
AI
The property asset involved in this transaction is an office space located at 500 West 181st Street in Washington Heights. The lease encompasses 35,469 square feet spread across three floors in the Radio Tower, owned by YoungWoo & Associates. The deal is a 10-year lease agreement.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 500 West 181st Street
- Market: Washington Heights
- Lease Term: 10 years
- Landlord: Bryan Woo - YoungWoo & Associates
- Tenant: Jeffrey Vacirca - New York Cancer & Blood Specialists
- Landlord's Representatives: Alexis Odgers, Joel Wechsler, Martin Cottingham, Michael Gottlieb, Patrick Steffens - Avison Young; Arthur Mirante - Savills
- Tenant's Representative: Ari Malul - Schuckman Realty
The lease transaction will enable New York Cancer & Blood Specialists to establish a new location, anticipated to open in the summer. The deal was facilitated by multiple representatives from Avison Young and Schuckman Realty, indicating a collaborative effort in the brokerage process.
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