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30 Hudson Yards

Convene Secures 72000 Square Foot Lease At 30 Hudson Yards In Midtown Manhattan
LEASEDRetail

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:

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

Robert Alexander

CBRE

Broker

12 deals

Broker
SL Green
SL GreenBrokerage

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