Luther Quintana Upholstery Leases Office Space At 545 West 45th Street From McMahan Capital Management
545 West 45th Street
$40
$40/SF
Building Size
14,000 SF
Asset Type
Office
Closing
Mar 28, 2025
About this deal
AI
The property asset involved in this transaction is located at 545 West 45th Street in Manhattan. It is classified as an office space with a lease type of Modified Gross Lease. The asking rent for this space is $40 per square foot, covering a total area of 14,000 square feet.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $40/ft
- Address: 545 West 45th Street
- Market: Manhattan
- Lease Type: Modified Gross Lease
- Landlord: McMahan Capital Management
- Tenant: Luther Quintana Upholstery
- Broker: Elena Ivanova & Christopher Okada - Okada & Company
This deal involved the representation of the landlord by McMahan Capital Management and the tenant, Luther Quintana Upholstery, was represented by brokers Elena Ivanova and Christopher Okada from Okada & Company. The transaction occurred on March 28, 2025.
On the Map
$40
$40/SF
Office
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
396575.00%
Cash-on-Cash
-113342.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93