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99 University Place

AZZI & CO. Leases 5,000 SF Office Space At 99 University Place, New York
LEASEDOffice

AZZI & CO. Leases 5,000 SF Office Space At 99 University Place, New York

99 University Place

$50

$50/SF

Building Size

5,000 SF

Asset Type

Office

Closing

Oct 1, 2023

AI

The leased property at 99 University Place, New York City is an office space measuring 5,000 square feet. It is classified as a Class B office and is part of Okada & Co.'s extensive commercial real estate portfolio in Midtown Manhattan. The property has been leased by AZZI & CO., with a lease type of Modified Gross Lease. The asking rent for the space is $50 per square foot.

Summary of transaction details

This transaction marks the 117th deal completed by Okada & Co. this year, totaling a leased office space of 574,304 square feet since 2021. The company's success can be attributed to its reputation as one of the most active players in the post-pandemic office market, with a focus on quick turnaround times, marketing expertise, and a broker-friendly approach. Brokers interested in their properties can find more information by emailing [email protected] or visiting www.okadaco.com.

NOTE FROM BROKER: Okada & Co. is delighted to announce the leasing of 5,000 SF at 99 University Place, to AZZI & CO!

Players

Christopher Okada

Okada & Company

Broker

$352.8M

vol

85 deals

Broker

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

317260.00%

Cash-on-Cash

-90673.88%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93