DoSomething.org Leases Office Space In Flatiron District NYC
50 West 17th Street, New York City, New York 10011, United States
Building Size
7,200 SF
Asset Type
Office
Closing
Jan 1, 2022
AI
An office space located at 50 West 17th Street in the Flatiron district has been leased. The lease was facilitated by Argo Real Estate, the landlord, and DoSomething.org, the tenant. The tenant was represented by Anthony LoPresti and Theodora Livadiotis from Cushman & Wakefield, while the landlord was represented by Chris Okada and Matthew Fernandez from Okada & Co. The office space spans approximately 7,200 square feet and was leased at an asking rent of $65 per square foot.
Summary of transaction details:
- Property Type: Office
- Transaction Date: 01/01/2022
- Address: 50 West 17th Street
- Market: Flatiron
- Landlord: Argo Real Estate
- Tenant: DoSomething.org
- Tenant's Rep: Anthony LoPresti & Theodora Livadiotis - Cushman & Wakefield
- Landlord's Rep: Chris Okada & Matthew Fernandez - Okada & Co.
- Asking Rent: $65/ft.
- Square Footage: 7,200
This lease agreement marks the beginning of the new year with optimism for the New York City real estate market. Chris Okada, one of the landlord's representatives, expresses excitement for the future and encourages potential collaborators to reach out. He emphasizes the importance of maintaining communication and the mutual benefits that can be gained through working together. Okada is hopeful for a flourishing NYC RENAISSANCE in 2022.
Players
New York Office Market Snapshot
Boundary boundary · Office · Lease transactions
Loading comparables…
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