Convene Secures 72000 Square Foot Lease At 30 Hudson Yards In Midtown Manhattan
30 Hudson Yards
Building Size
72,000 SF
Asset Type
Retail
Closing
Sep 4, 2024
AI
The retail asset located at 30 Hudson Yards encompasses a total square footage of 72,000. Situated in Midtown Manhattan, this property is part of a premier commercial development and serves as a strategic location for various businesses.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Size: 72,000 square feet
- Address: 30 Hudson Yards
- Market: Midtown Manhattan
- Landlord: Related Companies and Oxford Properties Group
- Tenant: Ryan Simonetti and Brian Holland - Convene
- Landlord's Representative: Elliot Karp and Stephen Winter - Related Companies
- Tenant's Representative: Robert Alexander and Rocco Laginestra - CBRE
Convene has secured its largest New York location in this transaction, occupying both the 24th floor and additional retail space on the ground floor, marking a significant expansion for the company in the city.
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