Sioni Group Leases 42,000 Square Feet Office Space At 6 East 45th Street In Midtown East
6 East 45th Street & 6 East 45th Street
$64
$64/SF
Building Size
84,000 SF
Asset Type
Office
Closing
Aug 28, 2024
AI
The asset involved in this transaction is an office space located at 6 East 45th Street in the Midtown East market. The property encompasses a total square footage of 42,000, with an asking rent set at $64 per square foot. The lease type is a Modified Gross Lease.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $64/ft
- Square Footage: 42,000
- Address: 6 East 45th Street
- Market: Midtown East
- Landlord: Sioni Group
- Brokers: David Lolai, Daniel Lolai & Raphael Zar - LSL Advisors
LSL Advisors has played a pivotal role in this transaction, having successfully leased the property within just nine months of new ownership. The team of David Lolai, Daniel Lolai, and Raphael Zar acknowledged the contributions of the Sioni Group for their meticulous construction and hands-on approach, enabling the leasing of 8 full floors and transforming the building into a Class A asset.
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
247859.38%
Cash-on-Cash
-70838.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93