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
Building Size
5,200 SF
Asset Type
Office
Closing
Mar 6, 2022
About this deal
AI
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.
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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