Variant Fund Leases Office Space At 75 Spring Street In SoHo For 10 Years At $95/ft
75 Spring Street
$95
$95/SF
Building Size
6,623 SF
Asset Type
Office
Closing
Jul 2, 2025
AI
The asset involved in the transaction is an office space located at 75 Spring Street in the SoHo market. The lease has an asking rent of $95 per square foot and encompasses an area of 6,623 square feet. The lease term is set for 10 years under a Single Net Lease structure.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $95/ft
- Square Footage: 6,623 SF
- Address: 75 Spring Street
- Market: SoHo
- Landlord: Greystone Management
- Tenant: Variant Fund
- Brokers: Adam Henick, Thomas Mahl & Brandon Charnas - Current Real Estate Advisors
- Lease Term: 10 Years
- Lease Type: Single Net Lease
The transaction was facilitated by representatives Adam Henick, Thomas Mahl, and Brandon Charnas from Current Real Estate Advisors. They played a crucial role in the negotiation process for the lease agreement between Greystone Management and Variant Fund.
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
166978.95%
Cash-on-Cash
-47723.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93