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75 Varick Street

75 Varick Street
LEASEDOffice

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

Moshe Sukenik

Newmark

Broker

10 deals

Broker
David Falk
Verified Badge

David Falk

Newmark

Broker

61 deals

Broker
Laura Hines-Pierce

Laura Hines-Pierce

Hines

Landlord

$3.8B

vol

36 deals

Landlord
HP
Hudson Square PropertiesLandlord

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