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617 West 46th Street, Manha...

Stepping Out Studios Leases Office Space In Times Square On 617 W. 46th Street
LEASEDOffice

Stepping Out Studios Leases Office Space In Times Square On 617 W. 46th Street

617 West 46th Street, Manhattan, New York, NY, USA

Building Size

5,000 SF

Asset Type

Office

Closing

Aug 15, 2020

AI

An office space located at 617 W. 46th Street in Times Square has recently been leased. The property, measuring 5,000 square feet, was leased by Stepping Out Studios, a dance studio. The leasing deal was facilitated by Matt Newman of Current Real Estate. The asking rent for the space was $60 per square foot.

Summary of transation details

  • Property Type: Office
  • Transaction Amount: Leased
  • Address: 617 W. 46th Street
  • Market: Times Square
  • Tenant: Stepping Out Studios
  • Broker: Matt Newman - Current Real Estate
  • Asking Rent: $60/ft.
  • Square Footage: 5,000

Stepping Out Studios, a dance studio, leased an office space at 617 W. 46th Street in Times Square. The leasing deal was handled by Matt Newman from Current Real Estate. The space, measuring 5,000 square feet, was leased at an asking rent of $60 per square foot.

Players

Matthew Newman

Repop Advisors

Broker

5 deals

Broker
SS
Stepping out StudiosTenant

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