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500 West 181st Street

New York Cancer & Blood Specialists Leases 35469 Square Feet At YoungWoo & Associates' Radio Tower
LEASEDOffice

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:

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

Martin Cottingham

Avison Young

Broker

$90.5M

vol

9 deals

Broker

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