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6 East 45th Street

Sioni Group Leases 42,000 Square Feet Office Space At 6 East 45th Street In Midtown East
LEASEDOffice

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:

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

Daniel Lolai

LSL Advisors

Broker

$211.9M

vol

91 deals

Broker

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