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Universal Home Fashion Leases Office Space At 7 West 36th Street In Fashion District

Property Image
LEASED
Hiro Iwata
Christopher (Chris) Okada

New York

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Office5,200 SF
Leased 03/07/2022
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Property Image
LEASED

Universal Home Fashion Leases Office Space At 7 West 36th Street In Fashion District

7 West 36th Street, New York City, New York 10018, United States

See Similar Deals
Office5,200 SF
Leased 03/07/2022
Hiro Iwata
Christopher (Chris) Okada
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Office
Total Square Footage:5,200 SF
Transaction Type:Lease

The leased property is located at 7 West 36th Street in the Fashion District. It is an office space with a total area of 5,200 square feet.

Summary of transaction details

  • Property Type: Office
  • Lease Date: 03/07/2022
  • Address: 7 West 36th Street
  • Market: Fashion District

The landlord for this lease is Empire Management, while Universal Home Fashion is the tenant. The lease was facilitated by Chris Okada and Hiro Iwata of Okada & Co.

The asking rent for the property is $36 per square foot.

Chris Okada from Okada & Co. provided some insights on the current office market. Despite high vacancy rates and market turmoil, there are opportunities for seasoned companies with strong balance sheets. 2022 is expected to see significant activity in the office market.

Players

Christopher (Chris) Okada
Okada & Company
Christopher Okada
84 deals$352.8M volume
BROKER
Hiro Iwata
Okada & Company
Hiro Iwata
17 deals
BROKER
Empire Management
Empire Management
LANDLORD

Details

LEASED
IMAGE: Chris Okada & Hiro Iwata DATE: 03/07/2022 ADDRESS: 7 West 36th Street MARKET: Fashion District ASSET TYPE: Office LANDLORD: Empire Management TENANT: Universal Home Fashion BROKERS: Chris Okada (@ChrisOkada) & Hiro Iwata (@OkadaCo) - Okada & Co. (@OkadaCo) ASKING RENT: $36/ft. ~ SF: 5,200 NOTE FROM @Okadaco: Follow @ChrisOkada... So you hear it in the news 95 Million Square feet of vacancy. 17% vacancy throughout the city. This is the WORST office market in our lifetime... EVER. So why are we still here? Because when there's chaos, confusion, & calamity... there's opportunity. All the tenants we have been working with have been waiting years & years for rents to come down. These are seasoned companies with cash flow & balance sheets that have been in business for decades. No doubt there's a ton of vacancies & we're moving one space at a time, but EVERY DEAL COUNTS... ALWAYS BE CLOSING... 2022 is going to be BIG.

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Deal Type
Effective Rent (Annual)

$298,060.86

Total Lease Value

$2,980,608.62

Net Landlord Cash Flow$298,060.86