HK Associates Leases Office Space To The RealReal At 53 West 36th Street In Midtown South, Manhattan
53 West 36th Street
$57
$57/SF
Building Size
13,880 SF
Asset Type
Office
Closing
Oct 3, 2023
AI
The property involved in this transaction is an office located at 53 West 36th Street in Midtown South, Manhattan. The asset type is an office space with a total square footage of 13,880. The transaction took place on 10/03/2023 and involved a lease agreement.
Summary of transaction details
- Property Type: Office
- Transaction Date: 10/03/2023
- Address: 53 West 36th Street, Midtown South, Manhattan
- Market: Midtown South, Manhattan
- Asset Type: Office
The landlord for this property is HK Associates and the tenant is The RealReal. The brokers involved in the deal include Daniel Lolai and David Lolai from LSL Advisors, as well as Matthew Augarten, Bill Levitsky, and Shannon Aja from Newmark. The asking rent for the office space was $57 per square foot.
Players
Market 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
278298.25%
Cash-on-Cash
-79538.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93