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50 West 17th Street, New Yo...

DoSomething.org Leases Office Space In Flatiron District NYC
LEASEDOffice

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:

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

Christopher Okada

Okada & Company

Broker

$352.8M

vol

86 deals

Broker
Matthew Fernandez
Verified Badge

Matthew Fernandez

OpenKey™

Broker

$22.3M

vol

12 deals

Broker
A
ArgoLandlord

New York Office Market Snapshot

Boundary boundary · Office · 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