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
About this deal
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.
On the Map
$44
$44/SF
Office
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Players
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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