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
New York Retail Market Snapshot
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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