IceCap Group Leases Office Space At 70 West 36th Street Manhattan With LSL Advisors As Tenant Representatives
70 West 36th Street
$48
$48/SF
Building Size
8,724 SF
Asset Type
Office
Closing
Feb 24, 2025
AI
The property asset involved in this transaction is an office located at 70 West 36th Street in the Manhattan market. The total square footage of the office space is 8,724 square feet, and it is being leased under a modified gross lease at a rate of $48 per square foot.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $48/ft
- Lease Type: Modified Gross Lease
- Landlord: Caudalie France
- Tenant: IceCap Group
- Tenant's Representative: Raymond Balassiano, Wayne Siegel & Daniel Lolai - LSL Advisors
- Date of Lease: 02/24/2025
The transaction involves key representatives from LSL Advisors, who worked on behalf of IceCap Group in securing the lease for the office space. The deal reflects the collaboration among Raymond Balassiano, Wayne Siegel, and Daniel Lolai in facilitating this agreement with the landlord, Caudalie France.
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
330479.17%
Cash-on-Cash
-94451.96%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93