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605 W 42nd St, New York, NY...

Volvo Leases 60000 Sqft Office Space At 605 W 42nd St, New York
LEASEDOffice

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

Mark Kapnick

Lee & Associates

Broker

$52M

vol

14 deals

Broker
The Moinian Group
The Moinian GroupLandlord

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