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8 W 36th St. New York, NY 1...

REM Management Leases 9,000 SF Office Space At 8 West 36th St In Midtown South Manhattan
LEASEDOffice

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

Daniel Lolai

LSL Advisors

Broker

$211.9M

vol

92 deals

Broker
FP
First Pioneer PropertiesLandlord

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