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224 West 35th Street, Manha...

Bushido Security Leases Office Space At 224 West 35th Street In Midtown Manhattan
LEASEDRetail

Bushido Security Leases Office Space At 224 West 35th Street In Midtown Manhattan

224 West 35th Street, Manhattan, New York, NY, USA

Building Size

1,100 SF

Asset Type

Retail

Closing

Feb 28, 2021

AI

An office space located at 224 West 35th Street in Midtown has been leased. The lease was secured by tenant Bushido Security. The landlord in this transaction is Gatsby Realty. The lease was facilitated by Nelson Mieses, who represented the tenant, and Christopher Okada and Hiro Iwata, who represented the landlord. The lease agreement was signed on 03/01/2021.

Summary of transaction details

  • Property Type: Office
  • Address: 224 West 35th Street
  • Market: Midtown
  • Tenant: Bushido Security
  • Tenant's Rep: Nelson Mieses
  • Landlord: Gatsby Realty
  • Landlord's Rep: Christopher Okada & Hiro Iwata
  • Lease Date: 03/01/2021
  • Asking Rent: $38/ft.
  • Square Footage: 2,500

The lease for this office space was an important step in rebuilding the city after a difficult year. Christopher Okada and Hiro Iwata shared their thoughts on the significance of this transaction, highlighting the perseverance and determination of those who remained in NYC during challenging times. They also mentioned their participation in "THE BILLION DOLLAR CLUB" on Wednesdays at 6:00 PM EST, inviting others to join them in celebrating successful deals and the city's progress.

Players

Aaron Aziz

ARA

Broker

47 deals

Broker
Gatsby Enterprises
Gatsby EnterprisesLandlord

New York Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93