75 Varick Street
75 Varick Street
Building Size
360,000 SF
Asset Type
Office
Closing
Mar 17, 2025
AI
The property asset involved in this transaction is an office space located at 75 Varick Street in New York City. The total square footage of the office space is 360,000 square feet. The landlords of the property include Hudson Square Properties, Trinity Church NYC, Norges Bank Investment Management, and Hines.
Summary of transation details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 75 Varick Street
- Market: New York City
- Square Feet: 360,000
- Tenant: Bill Koenigsberg - Horizon Media
- Landlords: Hudson Square Properties, Trinity Church NYC, Norges Bank Investment Management and Hines
- Brokers: David Falk - Newmark, Peter Shimkin - Newmark, Moshe Sukenik - Newmark, Chris Mongeluzo - Newmark
The deal involves Bill Koenigsberg representing Horizon Media as the tenant, while the brokers from Newmark include David Falk, Peter Shimkin, Moshe Sukenik, and Chris Mongeluzo, facilitating the transaction for the parties involved.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93