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70 West 36th Street

IceCap Group Leases Office Space At 70 West 36th Street Manhattan With LSL Advisors As Tenant Representatives
LEASEDOffice

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:

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

Daniel Lolai

LSL Advisors

Broker

$211.9M

vol

91 deals

Broker

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