Norman Bobrow & Company Represents Tenant In Office Lease At 58 W 40th St, NY
58 West 40th Street
Building Size
7,723 SF
Asset Type
Office
Closing
Feb 24, 2022
AI
The property asset involved in this lease transaction is located at 58 W 40th St, New York, NY, 10018. It is an office asset encompassing a total square footage of 7,723. The New York market is the setting for this transaction.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Address: 58 W 40th St, New York, NY, 10018
- Square Feet: 7,723
- Landlord: 58-64 40th St. Corp
- Landlord's Representative: Laura Belt Ponomarev - 58-64 40th St. Corp
- Tenant's Representatives: Matt Kashani - Norman Bobrow & Company, Michael (Mike) Nazarian
The deal features a prominent landlord represented by Laura Belt Ponomarev from 58-64 40th St. Corp, with the tenants represented by Matt Kashani of Norman Bobrow & Company and Michael (Mike) Nazarian. Their involvement highlights key roles in facilitating the transaction.
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