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60 East 42nd Street

Empire State Realty Trust, Inc. Leases Office Space To Sol De Janeiro USA In Midtown Manhattan
LEASEDOffice

Empire State Realty Trust, Inc. Leases Office Space To Sol De Janeiro USA In Midtown Manhattan

60 East 42nd Street

Building Size

57,203 SF

Asset Type

Office

Closing

Feb 21, 2024

AI

Located at 60 East 42nd Street in Midtown Manhattan, the office space spans 57,203 square feet and was leased by Sol de Janeiro USA.

Summary of transaction details:

Empire State Realty Trust, Inc. and Newmark played pivotal roles in finalizing the 11-year lease agreement between Sol de Janeiro USA and the property owner, Thomas P. Durels. The Empire State Realty Trust, Inc. facilitated the transaction on behalf of the landlord, while Newmark represented the tenant in this office lease.

Players

Scott Klau

Newmark

Broker

21 deals

Broker

Brooklyn 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