Volvo Leases 60000 Sqft Office Space At 605 W 42nd St, New York
605 W 42nd St, New York, NY, 10036
Building Size
60,000 SF
Asset Type
Office
Closing
Sep 7, 2016
AI
The office property located at 605 W 42nd St, New York, NY, 10036, in the bustling market of New York, encompasses a total of 60,000 square feet. The lease for this asset was signed on 09/07/2016, with Volvo as the tenant and The Moinian Group as the landlord. The tenant's representative in this transaction was Michael (Mike) Kadosh from CBRE, while Mark Kapnick from Lee & Associates represented the landlord.
Summary of transation details:
- Property Type: Office
- Transaction Amount: Not Applicable
- Tenant: Volvo
- Landlord: The Moinian Group
- Square Feet: 60,000
- Tenant's Rep: Michael (Mike) Kadosh(CBRE)
- Landlord's Rep: Mark Kapnick(Lee & Associates)
This lease transaction involved key individuals such as Michael (Mike) Kadosh from CBRE, representing Volvo as the tenant, and Mark Kapnick from Lee & Associates, who acted as the representative for The Moinian Group, the landlord. The collaboration between these individuals facilitated the successful leasing of the 60,000 square feet office space at 605 W 42nd St.
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