REM Management Leases 9,000 SF Office Space At 8 West 36th St In Midtown South Manhattan
8 W 36th St. New York, NY 10018, USA
$44
$44/SF
Building Size
9,000 SF
Asset Type
Office
Closing
Aug 18, 2023
AI
An office space located at 8 West 36th Street in Midtown South, Manhattan, has recently been leased. The property, owned by First Pioneer Properties, has a total square footage of 9,000. The lease term is set for 10 years and the asking rent is $44 per square foot.
Summary of Transaction Details
- Property Type: Office
- Transaction Amount: N/A
- Address: 8 West 36th Street
- Market: Midtown South, Manhattan
- Landlord: First Pioneer Properties
- Tenant: REM Management
- Landlord's Representative: David Dynak
- Tenant's Representatives: Daniel Lolai & Raymond Balassiano - LSL Advisors
- Asking Rent: $44/ft
- Lease Term: 10 years
The lease deal was facilitated by David Dynak, the landlord's representative, and Daniel Lolai along with Raymond Balassiano, who represented the tenant through LSL Advisors.
Players
Market 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
360522.73%
Cash-on-Cash
-103038.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93