Arcade Songs Expands Operations, Relocates To 60 Charlton St. In Hudson Square
60 Charlton St New York, NY 10013, USA
$90
$90/SF
Building Size
18,970 SF
Asset Type
Office
Closing
Jun 4, 2023
AI
The office property at 60 Charlton Street in Hudson Square has been leased by Arcade Songs, a music company led by Grammy-nominated songwriter and producer Gregg Wattenberg. The new boutique office building, owned by AEW Capital Management in collaboration with APF Properties and Drake Street Partners, offers Arcade Songs a significantly larger space of 18,970 square feet. The asking rent for the space is in the $90s per square foot.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not Applicable (leased)
- Address: 60 Charlton Street
- Market: Hudson Square
Arcade Songs, represented by Alex D’Amario and Gary Davies of CBRE, will be occupying the property. The leasing deal was negotiated by Mitchell Konsker and Benjamin Bass of JLL, who represented the landlord AEW Capital Management. The relocation to 60 Charlton Street allows Arcade Songs to expand its operations and take advantage of the larger space available in the building.
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
176255.56%
Cash-on-Cash
-50374.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93