BMW Leases 227,000 SF Office Space At 555 W 57th St, New York
555 W 57th St, New York, NY, 10019
Building Size
227,000 SF
Asset Type
Office
Closing
Oct 29, 2019
AI
The office property located at 555 W 57th St, New York, NY, 10019 is a 227,000 square foot space in the market of New York. The lease transaction was completed on 10/29/2019 with BMW as the tenant and SL Green Realty Corp. as the landlord. Matthew (Matt) Rosenzweig from Marcus & Millichap represented BMW in the deal.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not Applicable
- Tenant: BMW
- Landlord: SL Green Realty Corp.
- Tenant's Rep: Matthew (Matt) Rosenzweig(Marcus & Millichap)
The involvement of Matthew (Matt) Rosenzweig from Marcus & Millichap as BMW's representative in the lease deal adds a layer of expertise to the transaction, showcasing the professional guidance provided to the tenant in securing the space at 555 W 57th St.
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