Empire State Realty Trust Leases 46329 Square Feet To Concord At 250 W 57th St
250 W 57th St, New York, NY, 10107
Building Size
46,329 SF
Asset Type
Retail
Closing
Jan 22, 2020
AI
The property involved in this lease transaction is located at 250 W 57th St, New York, NY, 10107. The leased area encompasses 46,329 square feet. The market for this property is New York, and it is owned by Empire State Realty Trust.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not specified
- Square Feet: 46,329
- Address: 250 W 57th St, New York, NY, 10107
- Market: New York
- Landlord: Empire State Realty Trust
- Tenant: Concord
- Landlord's Representatives: Daniel (Dan) Organ, Cushman & Wakefield; Harry Blair
- Brokers: Keith Cody; Leslie Nadel, Empire State Realty Trust
This lease transaction involves key individuals such as Daniel (Dan) Organ and Harry Blair, representing the landlord. The tenant, Concord, is facilitated in the deal through brokers Keith Cody and Leslie Nadel, further indicating collaboration between executives in this transaction.
Players
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