TruFund Financial Services Inc. Leases Office At 9 East 40th Street For 7 Years
9 East 40th Street
$55
$55/SF
Building Size
5,400 SF
Asset Type
Office
Closing
Sep 24, 2025
About this deal
AI
The property involved in this transaction is an office asset located at 9 East 40th Street within the Grand Central market. The asking rent for the space amounts to $55 per square foot, encompassing a total area of 5,400 square feet. The lease has a duration of 7 years and 7 months, structured as a modified gross lease.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $55/ft
- Address: 9 East 40th Street
- Market: Grand Central
- Landlord: Eretz Group
- Tenant: TruFund Financial Services, Inc.
- Landlord's Representative: Steven Evans - Platinum Properties
- Tenant's Representative: Woody King - Lee & Associates
- Lease Term: 7 Year & 7 Month Term
- Lease Type: Modified Gross Lease
Key individuals in this transaction include Steven Evans, who represents the landlord Eretz Group through Platinum Properties, and Woody King, who represents the tenant TruFund Financial Services, Inc. via Lee & Associates.
On the Map
$55
$55/SF
Office
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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
288418.18%
Cash-on-Cash
-82430.80%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93